How Do Speculators Affect Gas Prices? | The Business Desk with Paul Solman | PBS NewsHour

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In the fall of 2007, when the U.S. economy first seemed in peril, I began answering reader queries here on the Business Desk. I still do so, but this page has expanded to include posts from eminent economists, "far-flung correspondents," and a variety of voices that have intriguing and/or useful things to say about economics, broadly defined. Please feel encouraged to respond to any and all of them.

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How Do Speculators Affect Gas Prices?

gasoline pump An attendant displays a fuel pump at a gas station in the Brooklyn borough of New York. Photo by Victor J. Blue/Bloomberg via Getty Images

Paul Solman answers questions from the NewsHour audience on business and economic news here on his Making Sen$e page. Here are Monday's queries::

Name: Jay Berman

Question: Where do the speculators on the commodity exchange or hedge funds affect the price of gas?

Paul Solman: I assume you mean "how" do they affect the price, Jay. This is a controversial topic. I have long lined-up, rather emphatically, on one side of it -- that speculation is a critical factor in price.

Some very eminent economists think I'm wrong, but for what it's worth, my fullest exposition came back in January of 2009. I've had no reason to revise it in the years since.

Name: Jerry Snow

Question: You did a story about B-Companies [called B Corps in our story], such as Warby Parker, who are including social responsibility in their mission. I'm looking for more information on this approach to business. Where can I find out about certification and criteria?

Paul Solman: Simple. Bcorporation.net.

This entry is cross-posted on the Rundown- NewsHour's blog of news and insight. Follow Paul on Twitter.

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-- Posted April 26, 2012 | Comments ( ) | Permalink