Oil Speculation

I have written on the subject of oil speculation before, here, and here. Kendaleth C. VanLue, a guest blogger over at Think Progress published a piece today in which he lays out each of the recent indicators that oil speculation on Wall Street in indeed driving up the price of oil, affecting gasoline prices and heating oil dramatically.  Shippers, parcel delivery companies, and airlines among other trade groups have repeatedly called on the administration to crack down on the practice, or at the very least open investigations. Experts have offered testimony to Senate and House leadership. However, other than veiled threats in recent stump speeches from President Obama, there has been no action from the Department of Justice or the CFTC.

The article lays out a sample of recent indicators of rampant oil speculation:

Think Progress has links to the data to back up each of the indicators.