Were Gas Prices Rigged, too? LIBOR-like?

[Octafish]

Motorists may have been paying too much for their petrol because banks and other traders are likely to have tried to manipulate oil prices in the same way they rigged interest rates, an official report has warned.

Concerns are growing about the reliability of oil prices, after a report for the G20 found the market is wide open to “manipulation or distortion”.

Traders from banks, oil companies or hedge funds have an “incentive” to distort the market and are likely to try to report false prices, it said.

Politicians and fuel campaigners last night urged the Government to expand its inquiry into the Libor scandal to see whether oil prices have also been falsely pushed up.

CONTINUED...

http://www.telegraph.co.uk/earth/energy/fuel/9401934/Was-the-petrol-price-rigged-too.html

Anyone up for an investigation? Sen. Sanders?

[Yeah Its Spin]

1. Issa is getting right on it.

[Octafish]

4. They never mention the Cost Of Living Allowance anymore.

From way back when:

The example of Frank Wisner, Jr. shows how the National Security State only benefits the well-off.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x408289

A hearty welcome to DU, Yeah Its Spin!

[raouldukelives]

7. Haha. Thanks for the laugh!

And welcome to the DU.

[tridim]

2. Retroactive. nt

[grasswire]

3. every damned commodity appears to have been rigged and jiggered...

...in order to ruin economies.

What are we to think?

Ghouls extracting what they can before a crash they know is coming? Or before climate change turns hungry populations into lawless jungles?

[safeinOhio]

5. If you live in Michigan, Ohio or Indiana please read this

http://www.thegasgame.com/speedway-effect/

Like today prices all over town jump 20 cents. If the price of oil drops back to $84, the price of gas will drop 1 or 2 cents a day for 2 weeks.
The president of Marathon(owns Speedway) got $30 million last year for figuring out how to do this.


When gas jumps, buy only a few gallons a day, never fill up. Never, ever buy anything else, other than gas at a major gas station. Please spend your money at the local mom and pop store.

[momsadem]

6. Do you really think they're aren't ALWAYS "Rigged"?

of coure they are. The companies test the Market Tolerance Ceiling all the time. Once they figure out whaen they have exceeded it, they back down until the public settles down. Then they do it again. There is nothing about Supply & Demand that plays a factor here. It's just business.