The Price of Gasoline- The SuperEnron Swindle

What determines the price of gasoline? Supply and demand? Exploration and production costs? Global instability? In this surprising interview- you will learn just how divorced oil prices are from these factors. Lawrence Velvel interviews Tyson Slocum, Acting Director of Public Citizen’s Energy Program. Slocum explains how speculation and manipulation in the unregulated oil futures market have driven the price of gas far beyond reasonable levels. Is this a much larger version of the market rigging games played by Enron? Brownouts and price spikes plagued California because of electricity trading swindles with names like “Deathstar” and “Fatboy”. We are all being robbed now, and we just meekly accept it. Is it any surprise that this is not reported in the news? This program was recorded in January of 2007, back when oil prices were a “mere’ $70 per barrel. Produced by The Massachusetts School of Law. 1 hr. Download here.