05-21-2008, 01:11 PM #1
Here's the traders responsible for the extreme prices. I am sure they are celebrating the daily record highs for oil.
from the artical:
"I don't think there's any question that speculators in the oil markets have taken prices higher than they would be otherwise," Barton said. "I think there ought to be new rules."
Barton, Lieberman and others have said they would draft legislation that would restrict commodity investments by large investors and close a loophole that allows speculators to avoid investment limits. A separate provision embedded in the Senate Democrats' energy bill would ensure that foreign exchanges using trading terminals within the United States adopt the same limits and reporting requirements as energy commodities traded on U.S. exchanges.
"You've got futures exchanges that are rife with the ability to manipulate and excessively speculate," said Michael Greenberger, a University of Maryland law professor who spent two years in charge of the Commodity Futures Trading Commission's trading and markets division. "Congress firmly believes that they've got to bring this speculation under control. And it is my thesis that if these markets were policed, the prices would drop very rapidly."
Last edited by MikeTrin; 05-21-2008 at 01:30 PM.
05-21-2008, 01:51 PM #2
no doubt speculators are driving up the price of oil a great deal, but the big drop in US currency value is responsible for 40% of the price increase in last year
05-21-2008, 02:57 PM #3
05-21-2008, 03:40 PM #4
05-21-2008, 04:26 PM #5
You didn't really read my post, did you?
05-21-2008, 04:30 PM #6
05-21-2008, 04:31 PM #7
05-21-2008, 04:37 PM #8
- Join Date
- Nov 2007
- Odessa, TX
05-21-2008, 04:43 PM #9
- Join Date
- Oct 2005
But where does Global Warming fall into all this? Fuck Al Gore....bring his ass to my place and explain to me how global warming is going on. I just want to go fishing and it's about to snow. What about the terrorists, and the Hurricanes, and the liberals, and the red necks???? Sounds like an old South Park episode to me.
Last edited by RXP-REX; 05-21-2008 at 04:46 PM.
05-21-2008, 04:44 PM #10
I'm not making the connection between your first premise and your second. And oil was never under $10/barrel in 1999. What am I missing? Just don't understand your post - sorry.
By the way, I'm just having fun with this post. Not trying to tick anybody off. Well, except icemouse.
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