We are paying at least $0.70 more a gallon at the pump because of speculators like Charles & David Koch. You buy ten gallons of gas, and that’s 7 bucks. 100 gallons and that’s $70. For a school system where each bus must be gassed on a daily basis, we’re talking thousands and thousands of dollars a year. Then, tea party loons, who have been created by Charles & David Koch, demand school budgets be cut. The far right demands all sorts of budget cuts, they have shaved $85 billion for this specific round of sequestration, without bothering to factor in the horrific consequences to the economy, created by the Brothers Koch and oil speculation.
Currently, the price of oil is nearly $25 bucks a barrel higher because of speculating. On Tuesday it was around $90 or so. If you take $25 off the top, the price of oil would be about $65 a barrel. If it were that much a barrel, we would be paying a heck of a lot less for gas. That’s nearly a third of the cost – just from speculation. If you are a school system, you must budget 30% more – for gas. If you are the Feds, you must plan 30% more for gas. Right now, we have a huge drilling boom in the US, but are paying terribly high prices.
In other words – speculation on oil prices is what is driving our high prices, deficits, and killing the economy. It is being driven, literally by the top speculators in the world, two of which are Charles and David Koch.
The average American spends $2,900 per person per year simply purchasing gas for our vehicles. What is truly interesting is the fact that these high prices are hurting our GDP. It is using up at least 4% of our income. The past two years ExxonMobil paid just 13% income tax rate. The big four get about $4 billion in tax breaks, per year.
“...The Atlantic’s Jordan Weissmann notes the increase in gas prices between 2009 and 2012 is “about the same as the payroll tax hike that economists believe could shave as much as 0.6 percent off of GDP growth this year.”…”
“…. 2011: As oil speculation again hits record highs, leading to record high oil prices, Koch’s allies in Congress fight to undermine new reforms and allow unchecked speculation to spiral out of control. As ThinkProgress has reported, oil speculation is currently at a record level, which experts, and even many Republicans now agree, is causing pain at the pump. After a furious lobbying campaign, the CFTC postpones Dodd-Frank mandated regulations on excessive oil speculation, known as position limits. As the CFTC grapples with how to implement these new rules, newly elected Republicans, many with Koch-backing, propose steep cuts to the CFTC to undercut any rules on oil speculation….”
I guess it doesn’t really matter, does it? All that truly is important is that the Koch Brothers become wealthier while draining the life-blood out of we the little people of the United States of America. They are like vampires, draining us dry. That’s not important, as long as they keep their tax loopholes and are allowed to transform this nation into the United States of Koch.
Just think how much more money we would have in our pockets if the Koch Brothers had not been allowed to get away with promoting the end of all restraints on the speculation of petroleum. I figure my family does about 50 gallons a month. At 70 cents a gallon that’s $35 a month and about $420 a year. This has been going on since 2008, which makes my family about $1700 poorer. Those numbers don’t include inflation for shipping and food prices, let alone anything else.
That’s okay. We’re just little people, not important. Neither are you. But – we do vote.