US top trade groups already demand an end to speculation, but why Congress not act and Media not report ?
"Leading energy experts across the country agree that recent, unprecedented jumps in crude oil prices are due, in large measure, to rampant speculation in the energy commodities markets.”
“19 of the nation’s top trade associations, consumer groups and labor organizations, the coalition urges “immediate reform in the widely-speculative energy commodity futures markets.”
http://energy.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_Id=a0267544-59b1-4cd7-b41e-8f0e55738999
Because speculations on the future price of oil does not actually affect the real price of oil that physically changes hands. Its just something politicians talk about to make their constituents think that they are doing to something about the high price of oil. Oil prices are affected by real supply and real demand, same as they always have. Don’t believe the hype.
December 20th, 2009 at 10:17 am
Because speculations on the future price of oil does not actually affect the real price of oil that physically changes hands. Its just something politicians talk about to make their constituents think that they are doing to something about the high price of oil. Oil prices are affected by real supply and real demand, same as they always have. Don’t believe the hype.
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