Futures Traders Driving up Oil Prices

http://www.nypost.com/seven/08022007/business/crude_traders_pump_oil_toward_100_level_business_paul_tharp.htm

I have been telling people for months that the futures traders are to blame for the oil and gas prices. The oil companies are at the mercy of the markets just like everyone else. The story today in the New York Post (see link above) proves it.
The only reason that the prices came down after labor day last summer is that the mutual funds pulled out of the oil market. Now it seems everyone is back in. While they are making money now, they are destroying the economies of the world.
I do not have a solution. I do know that when the fit hits that shan the liberals are going to make more government regulations and make it tougher on the oil companies, the markets in the US and around the world to do business in the US. Our economy will be stuck in the perpetual malaise. The emerging markets will start to out pace us. We will be second maybe even third on the world stage.
Of course, the liberals will blame free markets and capitalism. Why should life be easy for us all? Let's go back to the middle ages they were so great!
I am not sure what the answer is, but I do know that something will crack and this momentum will come crashing down like it always does.
If the liberals win in 2008 they will blame the Bush Administration. I believe the next three administrations will use Bush as an excuse. But that is off topic.
Capitalism and the free markets need to work themselves out. One solution that might help is let the oil companies search for oil where they want. Most every other country in the world allows this. Our government is pandering to the environmental crowd, who are trying to destroy the United States, because they have it too good (the environmentalists) in this country.
Just remember, that when the oil prices go up so does your 401k. The higher gas prices, are just forcing you to save for retirement.