Papantonio: How Wall Street Drives Gas Prices Upwards

In the last few weeks, gas prices have been slowly falling, but most Americans are still feeling pain at the pump. Republican talking heads would have you believe that this pain is the result of President Obama’s so-called hostility towards oil companies, but the truth is that the bankers and speculators on Wall Street are the heart of the problem. Oil speculators are able to make a quick buck on oil futures, and this helps drive the cost up for all of us. Mike Papantonio discusses the role that speculators play in raising our gas prices, as well as what we can do about it, with Tyson Slocum, director of Public Citizen’s energy program.