Are the Kochs to blame for gas prices?
Remember when we said that, despite an upcoming Republican onslaught of not-intended-to-be-factual statements, Obama is not to blame for high gas prices? Well, guess who is? Maybe Koch Industries, according to ThinkProgress.
Koch Industries has openly speculated in "contango" oil market manipulation, buying up crude oil and storing it offshore to artificially drive down supply. In 2008, Fortune magazine wrote that this sneaky business could be raising gas prices by "by anywhere from 20 to 40 cents a gallon." Classic Koch.
ThinkProgress doesn't offer any evidence that a Koch binge is the reason behind our current oil prices. There's so little regulation, it's hard to know whether their operations are above board — or, more likely, just how far below board they are at the moment. But the GOP might want to check out their BFF before pointing fingers at Obama's offshore drilling moratorium.
The Contango Game: How Koch Industries Manipulates The Oil Market For Profit, ThinkProgress.
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