Michelle Wu: “And most individuals agree that there are three reasons why the price is $128 a barrel rather than $60 a barrel. The…”

“And most individuals agree that there are three reasons why the price is $128 a barrel rather than $60 a barrel. The three reasons are our presence in Iraq, instead of lowering the price of oil, it increased the price of oil; the permission from Wall Street to speculate on a purely financial basis in commodity futures; and the third reason is the lowering of the value of the U.S. dollar. Two of those policies are intentional policies, and the third policy was passed by the Republican Congress.”