Sanders: Oil speculators behind high gas prices

By David Edwards
Friday, June 3, 2011 8:40 EDT
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Sen. Bernie Sanders (I-VT) says that the soaring gas prices are the fault of oil speculators on Wall Street.

“Ten years ago oil speculators controlled about 30 percent of the oil futures market,” Sanders explained. “Today Wall Street speculators control over 80 percent of that market.”

“Their sole function in life is to speculate to drive oil prices up and to make money,” he added.

Watch this video from WCAX, uploaded June 2, 2011.

David Edwards
David Edwards
David Edwards has served as an editor at Raw Story since 2006. His work can also be found at Crooks & Liars, and he's also been published at The BRAD BLOG. He came to Raw Story after working as a network manager for the state of North Carolina and as as engineer developing enterprise resource planning software. Follow him on Twitter at @DavidEdwards.
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