Goldman Sachs is to be sued by dozens of small oil and gas producers across Oklahoma and the Midwest. The producer consortium claims the defendants conspired to defraud them out of proceeds for crude oil they delivered just before the collapse of Oklahoma-based pipeline giant Semgroup in the summer of 2008.

The lawsuit may get investigators a little closer to finding out if Goldman Sachs was responsible for helping to artificially push oil prices to record highs in the summer of 2008 by conspiring against Semgroup in massive crude oil trades.

As first detailed by Forbes Magazine in 2008, Semgroup collapsed into bankruptcy under $3 billion in short sale losses on oil futures trades. Goldman, through its J. Aron commodities division, was Semgroup’s largest counterparty. It appears to have been responsible for giving Semgroup its final push off the cliff by unleashing a massive margin call on Semgroup as oil prices spiked. This is of course spookily reminiscent of how Goldman shorts helped to sink Lehman Brothers.

Billionaire John Catsimatidis, who settled his own Semgroup-related suits, continues to assert that Goldman actions may have helped push up the price of oil to its record of $147 a barrel.

Last night The Slog speculated as to how and why the euro had risen, against all the odds, compared to other major currencies yesterday. We understand that the UK’s Financial Services Authority (FSA) is stepping up its investigation into Goldman currency and short-selling trades in the eurozone and uk markets from its London headquarters.