16 Mar '12, 10pm

Yergin: What's Behind Rising Gas Prices? | Peak Oil News and ...: rising oil and gasoline prices have become an

Yergin: What's Behind Rising Gas Prices? | Peak Oil News and ...: rising oil and gasoline prices have become an

The market is clearly responding to what it sees as dangers ahead. Still, charges of speculation and price manipulation are already being resurrected from 2008. This is nothing new. As early as 1923, Sen. Robert “Fighting Bob” LaFollette, chairing highly charged Senate hearings on gasoline prices, warned that if companies were permitted “to manipulate oil prices . . . the people of this country must be prepared, before long, to pay” the unheard-of-level of at least “a dollar a gallon.” As it turned out, within a few years gasoline was as low as 10 cents a gallon.

Full article: http://peakoil.com/consumption/yergin-whats-behind-rising...

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