12.10.2010

Expensive gas for the Hummer; Wall Street frolics; we are screwed

Experts expect gas prices to continue to rise through 2011 | Philadelphia Inquirer | 12/10/2010

As he pumped $60 of regular unleaded into his H3 Hummer Thursday, Chuck Miller anxiously calculated how much he's blown since gas prices, suddenly and sharply on the rise again, hit $3 a gallon....

A weaker U.S. dollar may be only part of the story, said Michael Greenberger, a professor at the University of Maryland School of Law, where he teaches a course about futures markets and complex investment vehicles.

"The overriding cause of this," Greenberger said Thursday, "is excessive speculation by Wall Street types."

 

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