OpenLine: Speculation drives up price
April 6, 2012 10:16PM
Updated: May 9, 2012 8:08AM
One of the reasons we have high oil prices is some of the oil has been taken off the market and locked down by banks like J.P. Morgan, Goldman Sachs and Wall Street, with no intention of using it. This causes a shortage, driving up the price and selling it back at a huge profit. This practice is called speculation.
Iran poses a threat to U.S.
Iran poses a nuclear threat. Will Iran use that nuclear power against the U.S.? I’m afraid they will. It will be in retaliation for the U.S. supporting the Shah of Iran. Many were victimized by the Shah, but nothing was ever done about it because he was backed up by the U.S. Now, survivors seek redemption, and that’s the way our foreign policy works.
Can’t rely on casino revenue
I see in the March 8 Herald-News, “Joliet casino revenues still in decline,” that it appears that the city council and mayor of Joliet have been diverse and judicious about making sure there’s other avenues of revenue for the city other than casinos. That was a proactive move. They do not have to rely on the inconsistent casino revenues that are still evidently in decline with our rather rough economy.