Why?
Primary due to rising oil and gas prices.
Why? Wall Street hails this as another sign of recovery, but, maybe it has another reason.
Meet Andrew J. Hall, arguably the king of oil commodities future speculators. It was him and his ilk, in addition to legitimate supply and demand concerns just 12 short months ago, who were probably adding an extra $25/bbl to the price of oil even as we were already officially in a recession and moving deeper into it.
It’s people like him who have caused the recent spike in gas prices, all because Wall Street is less “recessed” than you and I.
Oh, and he wants $100 million from Citigroup for his work, even though Citi got bilions in TARP money from Uncle Sam, aka “you and I.”
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