Comments on: Gasoline Prices Reach Record Highs

Analysts Say Prices Will Continue To Skyrocket For The Foreseeable Future

[gce65]

face the facts: Bush/Cheney sold out your futures to exxon-mobil, halliburton, wall street firms, banks, etc. they are your new corporate masters. obey them. give them everything do not resist. consume. consume. consume.

Soylent green is...PEOPLE! --Charlton Heston
(now a green tablet somewhere)

[gce65]

OF COURSE OIL PRICES ARE SOARING!

speculators, investment bankers and financial services institutions are throwing around the $150-$200 per barrel figure so they can create panic in the market and a self fulfilling prophecy. what do you think they''re investing in now that the housing bubble/subprime market has burst? OIL companies, OIL futures, OIL services corps.

[tazmjam]

Pt2
REF: http://infowars.net/articles/may2008/050508oil.htm

The report pointed out that the Commodity Futures Trading Commission, a financial futures regulator, had been mandated by Congress to ensure that prices on the futures market reflect the laws of supply and demand rather than manipulative practices or excessive speculation. The US Commodity Exchange Act states, %u201CExcessive speculation in any commodity under contracts of sale of such commodity for future delivery causing sudden or unreasonable fluctuations or unwarranted changes in the price of such commodity, is an undue and unnecessary burden on interstate commerce in such commodity.
The impact on market oversight has been substantial. NYMEX traders, for example, are required to keep records of all trades and report large trades to the CFTC.
In contrast to trades conducted on the NYMEX, traders on unregulated OTC electronic exchanges are not required to keep records or file Large Trader Reports with the CFTC, and these trades are exempt from routine CFTC oversight.
In contrast to trades conducted on regulated futures exchanges, there is no limit on the number of contracts a speculator may hold on an unregulated OTC electronic exchange, no monitoring of trading by the exchange itself, and no reporting of the amount of outstanding contracts at the end of each day.

Contact your Senator and Reps and tell them you want this loophole closed.

[tazmjam]

Pt.1
Some people have suggested Hedge Funds and Futures speculation may be to blame for rising oil prices. It appears they may not be that far off the mark. There are some Futures markets that are not regulated by CFTC. The OTC electronic markets was exempted from CFTC oversights and reporting requirements. No way to know who is buying or selling oil futures on OTC. Open to all kinds of greed or worse.. if someone wanted to sink the US economy this would be the way. Why is Washington and MSM ignoring this? PLEASE READ:

http://infowars.net/articles/may2008/050508oil.htm

Ref: article written by F. William Engdah
A June 2006 US Senate Permanent Subcommittee on Investigations report on %u201CThe Role of Market Speculation in rising oil and gas prices,%u201D noted, %u201C . . . there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices.%u201D
What the Senate committee staff documented in the report was a gaping loophole in US government regulation of oil derivatives trading so huge a herd of elephants could walk through it. That seems precisely what they have been doing in ramping oil prices through the roof in recent months.
The Senate report was ignored in the media and in the Congress.