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Are Oil Prices Artificially Inflated?

Fri, 30 May 2008

As the cost of crude oil continues to hit record highs, some regulators in Washington want to know whether prices are being manipulated.

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30 May 2008Are Oil Prices Artificially Inflated?

Are Oil Prices Artificially Inflated? 

As the cost of crude oil continues to hit record highs, some regulators in Washington want to know whether prices are being manipulated.

Play from 0:05"… of today's unprecedented market conditions. Another day another price at the pump. Gas prices going through the roof right now -- it takes me fifty dollars a week. Go to work and back only. As gas prices approaching national average of four dollars a gallon for regular the price of crude oil is way up to currently hovering around 126 dollars a barrel. Now comes word of a federal investigation into whether prices are being manipulated we are doing the work they're trying to uncover exactly what's going on. Testifying this month before congress Jeffrey Harris is the chief economist with the Commodity Futures Trading Commission. That's the agency conducting the investigation so far won't say who or what it's investigating but Harris told lawmakers several factors are …" at 0:05
Play from 1:03"… the market which some analysts say has also driven up prices this hedge fund manager agree. …" at 1:03
Play from 1:17"… It's not clear winner this federal investigation will become -- but congress is considering another hearing. To address concerns in the oil market in Washington on the cult killing …" at 1:17
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19 May 2008Gas Prices Zooming; No Relief Looming

Gas Prices Zooming; No Relief Looming 

Hoping gas prices might settle in the $3.50 range? Good luck with that.

Play from 0:02"… I use a lot of gas -- this this this really -- gas prices they just keep climbing but got applauded. Credit some analysts say no relief is in sight with the summer driving season on the horizon many experts expect four dollar a gallon of regular gas. Soon every week we see record high gas prices. It is seen Sundays that there's no into it President Bush says the answer is right here at home. …" at 0:02
Play from 0:36"… Even so in an effort to bring down gas prices the president met with Saudi Arabia's king up until last week to ask for increase oil production. …" at 0:36
Play from 1:23"… recently voted overwhelmingly to direct the Bush Administration has stopped filling the strategic oil reserve. In Washington I'm -- Collins …" at 1:23
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23 May 2008Gas Prices Keep Motorists Off Roads Memorial Day

Gas Prices Keep Motorists Off Roads Memorial Day 

Gas Prices Keep Motorists Off Roads Memorial Day

Play from 0:00"… The clock -- stinging gas prices drivers lining up to Norwood as we head into the long holiday weekend. They are all trying to fill up before prices go up to veteran of four dollar a gallon mark. Fact is that a five -- is -- Norwood this morning with more on how the dot drivers are dealing and I'm surprised Stephen early and drivers are already there. All they are flooding in here -- at that sheep station in town David believe it or not we're talking about 379 a gallon for regular unleaded hard to believe you know look like. We're on a collision course with the four dollars a gallon as well a lot …" at 0:00
Play from 1:01"… The nuts and gas prices can do it now. Let's get off home. …" at 1:01
Play from 1:07"… He noticed that is gas prices are now looking at the price -- 379 a gallon here there are some pretty grim predictions for the future hurricane season. Begins June 1 now we whereas the other blockbuster hurricane like Katrina some analysts warn. We could see prices jumped as high as six dollars a gal -- that's worse case scenario I guess it is important to remember. The good news here for most people it's a long holiday weekend relied in Norwood the -- your enterprise that's right …" at 1:07
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