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Back in April I wrote a couple of articles about how rampant speculation by Koch Industries, Goldman Sachs and other big players in the energy markets has been driving up the price of oil. Immediately, a bunch of freemarket sockpuppets came out of the woodwork and infested our comments section, repeating the same invisible-hand-knows-best bullshit: Speculators are a force of good, not evil; they don’t drive up prices, but in fact help keep them low. Sounds plausible, right?

Well, a few weeks ago Senator Bernie Sanders leaked a small batch of secret energy trading data compiled by the U.S. Commodity Futures Trading Commission which showed that in the summer of 2008, when the price of oil was spiking to a record $148 per barrel, the oil commodities market was one giant speculatory cesspool dominated by the largest fraud-ridden banks, investment funds and oil companies in the world, including Goldman Sachs, JP Morgan Chase, BP and Koch Industries. (more…)

September 18th, 2011 | Comments (31)

Groundbreaking Rightwing Research Yields The "Teabagger Oil Theory"

The price of oil hit $125 today, a 33 percent increase since the start of the year, and will probably keep going up. For those wondering “why,” there’s a new theory that explains everything.

April 27th, 2011 | Comments (26)

Koch Industries Lackeys Admit To Manipulating Oil Prices...And Gloat About It, Too

The Kochs Give a Big Enron Fuck You to America: Traders working for Koch Industries not only gave PowerPoint presentations outlining their plans to drive up the price of oil, but openly boasted about gaming the market in the business press.

April 15th, 2011 | Comments (47)

War Nerd Update: Yo Ho Ho and a Tanker of Crude

Yo ho ho ho time in Somalia! What’s the bestest present kids dream of in faraway Puntland, where piracy is more than a Disney marketing gimmick? A supertanker, that’s what. A Saudi supertanker is the ultimate in stuffed stockings: 100…

November 18th, 2008 | Comments (44)