The cost of gas is expected to rise this spring and summer — but no matter how hard conservative pundits try to blame a potential threat of an oil cutoff from Iran, it’s just not the whole story.
Speculation on oil futures — by big banks such as Goldman Sachs, JPMorgan Chase and others — contributes to the rising cost. “They make money if the price zooms up,” Cenk says. In 2011, the average American household paid $600 more out of pocket as a result of that speculation. “It isn’t supply and demand. It isn’t the free market. It’s because these guys are playing with the market — so that they can make more money. They have got to love what is happening with Iran.”