And a Ha-rum to you to Sir!
I understand what you are saying and are absolutely correct. They will get their taxes regardless. I'm not sure how federal tax is computed on oil products but if it's like anything else, of course, the higher the price= more tax. Maybe that is why they are turning a blind eye on this problem. They purchase petroleum at a flat rate that see's little fluctuation and they're not taxed. With speculation, you can inflate the market quite heavily. The more a product "changes hands" the more expensive it becomes. I understand the concepts of overhead, but speculation has none of it. They don't store, transport it, distill it or use it. They just buy and sell. Yes, they take a financial risk for doing what? Other then producing a market that should not exist in the first place. Who suffers, you and I. A gallon of milk was 2.69 last year at a wharehouse chain now it's 3.50. Did a crap load of a dairy cows die? No, reflects cost of transport. Diesel is over 5.00 a gallon. I hate to see the price of av-gas is now. You want to see another great depression, keep up with the oil speculation..... Your turn!
