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Response to Fight2Win (Reply #12)

Wed Feb 13, 2013, 10:42 AM

16. Koch brothers stole from us to buy our politicians and even more legislation, now in every state

 


Koch Industries CEO Charles Koch
In April, ThinkProgress caused a stir when we uncovered a series of Koch Industries corporate documents revealing the company’s role as an oil speculator. Like many oil companies, Koch uses legitimate hedging products to create price stability. However, the documents reveal that Koch is also participating in the unregulated derivatives markets as a financial player, buying and selling speculative products that are increasingly contributing to the skyrocketing price of oil. Excessive energy speculation today is at its highest levels ever, and even Goldman Sachs now admits that at least $27 of the price of crude oil is a result from reckless speculation rather than market fundamentals of supply and demand. Many experts interviewed by ThinkProgress argue that the figure is far higher, and out of control speculation has doubled the current price of crude oil.

http://thinkprogress.org/report/koch-oil-speculation/

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Sherman A1 Feb 2013 OP
sunwyn Feb 2013 #1
leftyohiolib Feb 2013 #2
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fasttense Feb 2013 #4
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Spider Jerusalem Feb 2013 #10
libtodeath Feb 2013 #11
oldhippie Feb 2013 #18
Fight2Win Feb 2013 #12
LineLineNew Reply Koch brothers stole from us to buy our politicians and even more legislation, now in every state
Fight2Win Feb 2013 #16
kelliekat44 Feb 2013 #13
Proud Liberal Dem Feb 2013 #15
Initech Feb 2013 #17
sinkingfeeling Feb 2013 #19
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