Thursday, September 22, 2011

Thom Hartmann: These guys aren't "job creators" - they are hucksters...

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Oil oligarchs Charles and David Koch are now worth $50 billion - more than five times what it was ten years ago - making their combined wealth second only to Bill Gates. And it looks like they made a large chunk of their money screwing the rest of us over at the gas pump. According to the Center for American Progress - for the last several years - the Kochs have engaged in rampant oil speculation - meaning they place bets that the price of oil will go up - and when it does go up - they make a ton of money - while the rest of us have to deal with paying more at the pump to keep our cars running.

According to Goldman Sachs - thanks to banksters and the Kochs manipulating oil prices - each barrel of oil is roughly $27 more expensive because of speculation. Between 2004 and 2008, when the price of oil surged from around 30 bucks a barrel to well over 100 bucks a barrel - the Kochs also saw their fortunes surge - from $5 billion to well over $35 billion.

And back in 2009 - ThinkProgress reports that the Kochs admitted they are one of the top 5 oil speculators in the world. These guys aren't "job creators" - they are apparently among the hucksters who are running up the price of gas and ruining our economy.


(What would you do about this? Tell us here.)

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