the truth about the oil price is insider trading called the enron loop hole our politicians have built on this.
see the report http://www.thepetitionsite.com/1/this-is-an-sos-to-the-american-votersou...

Truly appalling writing. How can you provide a link to something that appears to have one error per sentence? Even if the message was true and accurate!

Here is a link to the youTube video from the item linked above. Speaking for myself, I consider myself well read and comprehensively versed in energy matters. I also saw the mordant documentary "Enron: The Smartest Guys in the Room". Why is this Enron Loophole new to me?

The Enron Loophole - legalized insider futures trading (McCain and cronies look sooooo complicit) : http://www.youtube.com/watch?v=2DXKvzvXAKg

Edit: I really like the suggestion below to suspend the futures market (for oil) for a month or two - this would very quickly establish if speculation contributes in any significant way to the current price of oil. Prove that the politicians, main-stream-media and O'Reilly are all FOS (full of excrement).