Gas pain: Here we go again!

The opening 40 seconds of the NBC Nightly News tonight told the story...

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Notice that this time around nobody is even trying to get away with the "supply and demand" story? Straight out of the box, they admit it's all about the speculators.

This one's easy for me. I've already explained how speculation works in 4 posts last year. Here they are, and they're just as true 6 months later:

Part 1:  http://rsteinfeldt.blogspot.com/2011/08/have-you-noticed-prices-keep-going-up.html

Part 2: http://rsteinfeldt.blogspot.com/2011/08/first-some-facts-about-oil.html

Part 3: http://rsteinfeldt.blogspot.com/2011/08/up-popped-deregulation-speculators-part.html

Part 4: http://rsteinfeldt.blogspot.com/2011/09/turn-off-bubble-machine-speculators.html

Unless we get smart enough to do something about it, I'll see you in another few months with the same links.