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Washington and National Oil Marketers Associations Decry Energy Speculators Pushing Oil Prices Up 5.4 Percent in a Day to $121.18 a Barrel.
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Business Wire
- Article date:
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August 22, 2008
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Copyright informationCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Energy Supplies Are Up and Demand Is Down, Yet Speculators Continue to Profit at the Expense of American Families and Businesses
SEATTLE -- "Today's 5.4 percent crude oil price increase to $121.18 a barrel despite decreased demand and increased supply is a clear sign that speculators continue to dominate the commodities markets hurting our national economy," said Lea Wilson, executive director of the Washington Oil Marketers Association (WOMA).
"There is absolutely no economic reason for prices to increase the way they did today," Dan Gilligan, president of the Petroleum Marketers Association of America, said. "The commodities market is disconnected from reality and ...
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