Comments on: Did Speculation Fuel Oil Price Swings?
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- He pretty much nailed the decline right on the head with the collapse of the credit market and the margin calls...further proving that $150 oil never had anything to do with supply and demand.
All it was, was a huge money grab that the media got most Americans to buy off on....hook, line, and sinker. - Reply to this comment
- I would hope the government would prosecute the ones reponsible but of course they''re probably Bush''s buddies. I''ll bet Cheney made plenty somehow...he knows the ropes.
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- Were the oil speculators responsible for the over $150 per BBL price? Simple answer. When prices were high, there was frantic oil speculation. Oil prices are now way down. Where are the oil speculators? If they are no longer around, then they were responsible.
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- aaaahhhh....DUH!!!!!!!
We''ve known all along, this is old news. - Reply to this comment
- Sadly, you are correct, 5050.....crime DOES pay.
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- "It is now evident that speculators in the energy futures markets play a much larger role than previously thought, and it is now even harder to accept the agency''s laughable assertion that excessive speculation has not contributed to rising energy prices," said Rep. John D. Dingell (D-Mich.). He added that it was "difficult to comprehend how the CFTC would allow a trader" to acquire such a large oil inventory "and not scrutinize this position any sooner."
Here is all you need to know.....
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/20/AR2008082003898.html - Reply to this comment
- And what will be done about it? We see from the article that the criminals simply moved up the ladder to continue their brand of extorsion. So when does the shoe fall and when does it fall on the those responsible....once and for all? Where is the justice? There won''t be any because crime pays.
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