Comments on: Oil Trading's Powerful "Dark Markets"

CBS News Looks Inside Futures Trading Beyond Watch Of U.S. Regulators

[Syndicate]

People seem to forget all that Ahmadinejad and Hugo Chavez have done to increase the price of oil. First they stopped accepting dollars for oil produced in their country. They have lobbied OPEC to switch to Euros over Dollars. At every opportunity they have talked the price of oil up. This is a strategic attack on the US by Iran and Venezuela. Fortunately they severely underestimated the technological prowess of the US. The Saudis seem to understand what alternative fuel actually means to OPEC and are willing to try and bring down the price of oil in order to prevent the wide spread adoption of alternative fuels. But there is speculation too. I hope gasoline hits $10 a gallon. I like the empty freeways.

[bobnjersey]

[The Feds need to step in and regulate their activities now, or do we have a Yes man as U.S. Attorney General?]
[Posted by BajaJohn1 at 12:21 PM : Jun 18, 2008]

not sure about the attorney general ... but the treasury secretary (henry paulson) is a former ceo of goldman sachs ... one of the orignal creators of this ice.

[m109876]

The rich people of the world have finally figured out how to get all the money. Didn''t we all know they would someday?

[sanitycheck]

Who are you going to believe, the politicians or the the numbers?

[komoncents]

One of the real tragedies here is that we are getting zero leadership on this matter from Washington. With the enormous buying clout of the American nation, we should be able to call the shots. But instead we''re left to flounder as Bush and cronies allow the wholesale rape of our citizens.

Of course we could each take matters into our own hands and park our automobiles. Everytime you turn the key you empower these criminals, not to mention how the environment would benefit from reduced driving.

[sanitycheck]

Found a spreadsheet on the EIA website showing world oil supply and demand from 2003 through 2007, 2005 being the last time that supply was greater than demand, and the gap has been widening ever since. The net is that in 2007 the world demand for oil outstripped supply by 830,000 bpd. And you wonder why the price is high? Here''s the link, the download is at the bottom of the left hand list Titled World Oil Balance. http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html

[sanitycheck]

I can''t believe this reporter draws a paycheck.

[jon2012-2009]

Bush and his Republican cohorts are giving capitalism a bad name, just as they have squandered America''s goodwill abroad. But managed capitalism works for the benefit of all by setting prices on goods fairly so that they remain available and, as the manner our economy is organized, it is the well-spring of our country''s wealth. Deregulation, in the guise of diminishing the heavy-handed role of government, opens the way for predators to manipulate markets and leave wreckage in their wake. Deregulation is the mantra of Republicans and we''ve seen how that has allowed fraud and greed to run rampant every time.

[barbjc1]

I am not surprised about the oil "dark Markets". It fits the mode of operation for large investment corporations in the USA.

[homespunlady]

omega39

and that''s BEFORE the halting of GWB''s OVERFILLING of the Strategic Oil Reserves that I believe is now scheduled to stop in July.

The TAXPAYER has been paying nearly $140 PER BARREL not JUST for personal use but FOR GWB to TAKE OIL OFF THE MARKET and "CHARGE" the HIGHEST PRICES IN HISTORY TO THE American TAXPAYER on top of everything else he has WASTED and DIVERTED to his BUDDIES of OUR money!

Pretty good scam actually.

GWB blaming oil prices on being PREVENTED from drilling EVERYWHERE without ANY restrictions.

It Reminds me of a TEENAGER that STEALS his parent credit card, goes on a wild spending spree, Wrecks the house with his partying and then BLAMES THE PARENTS when they finally catch up with his actions.