A Goldman-Sachs gas station coming soon!

Let’s see who we should blame for rising oil prices! Gas guzzling SUV’s, the evil Chinese economy, our insatsiable desire for heating oil in the winter, our useless drives to grandmother’s house! Yikes…..setting ourselves up are the worst person in the world should be restricted to that opinion by Keith Obermann…..not finger pointing at each other.

In 2000, a little company named Enron came up with a idea to corner the natural gas market. They got Congress to add a little “investment exception” to a Farm Bill…..which allowed them to buy with “No money down”…to buy up the lion share of natural gas in the United States! The result was the cornering of the Western Energy Markets and a $40 Billion dollar expense to consumers in California, Arizona and Nevada! This caveat to the Energy Regulations is still in effect. As a result….Goldman-Sachs and other major Investment groups like the Dubai Investments Group….are cornering the market in Oil. As a result….the distortions in the Energy Markets are a direct result of Hedge Funds and Derivative Investors….moving out Sub-Prime Mortgage Vehicles and into “Index Energy Futures”!

The oil companies tell us that the actual cost of production is roughly $40 dollars a barrel. Since the “street price” is now at least three times that….. fast action by the Congress could quickly pull the rug out from under these international energy speculators! Goldman-Sachs is the group pusing the $200 a barell hype to investors….such as CalPers and other major Public Employee Pension Funds that are scared to death…they are going to miss out on the “The Black Gold Rush of 2008”!

Let’s be clear, before “the Enron Investment Exception”…Energy Markets only spiked once…when Jimmy Carter couldn’t get our hostages out of Iran! Then the failure of our rescue efforts…..then the lack of will to adjust interest rates by the Fed. But that is all “old news”! We need Federal Regulations of the Energy Markets…and we need them now. We need to halt “Investment Speculation in the Energy Markets”….and all the Congress has to do is to retrench to the rules that governed these markets for 78 years…prior to the year 2000….”Enron Exception”!

There is little doubt that there is greater demand for oil in our society and there is little doubt that we need to cut back on how much we use. How much do we have to cut back? 20%, 30%…..maybe….but not 100%…based on the greed of now compliant Investment Vehicles that are jumping on board the “Black Gold Band Wagon”.

So, when you pass that Gas Station in your neighborhood…do not swear at the oil companies, the Arab oil producers…..blame their banks….blame our banks and investment groups….they are stealing money right out of your pockets and putting it into theirs!