Sunday, June 29, 2008

Oil Speculation: The House Energy & Commerce Subcmte.

10 years ago, the ratio of interested parties to speculators in the oil futures market was about 4 to 1, now it is about 1 to 2.

Another panelist says there is a provision of the Commodities Trading rules could limit the 260 billion "commodities index" purchasers to a maximum of 4 billion.

Rep. Mike Rogers (R-MI) is either dumb, or not paying attention.

Rep. Dingell (D-MI) is quite old.

The net result is that reasonable restrictions on Commodities (oil) trading would cut oil prices by half inside a month.

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