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Article: PRICE OF GASOLINE THE ISSUE: WHAT HAPPENED TO "GREEDY SPECULATORS"? OUR VIEW: FOR EVERY BULL, THERE'S A BEAR.
- Article from:
- Evansville Courier & Press (2007-Current)
- Article date:
- August 18, 2008
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Copyright informationCopyright 2008 Evansville Courier & Press (2007-Current). Provided by ProQuest LLC. (Hide copyright information)
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Whatever happened to the "greedy speculators"?
They were a staple of campaign rhetoric by politicians trying to
assure voters that the villains behind $4-a-gallon gasoline would
not go unpunished.
Here's what happened: Crude oil prices have fallen by almost 20
percent, and continued to fall last week despite the threat posed to
supplies by the Russian invasion of Georgia.
We saw some of that in Evansville, where the pump price of
gasoline declined steadily and flirted with going below $3.60 per
gallon before jumping back up to $3.75 late last week. However, that
price is likely to begin slipping again if a drop in the price per
barrel seen Friday continues.
Natural gas, a related commodity, ...