Oil Prices are rigged by speculators it has nothing to do with supply demand..!


	Oil Prices are rigged by speculators it has nothing to do with supply demand..!

TJColatrella

8-22-2008 12:21 PM

242 views

tags:

speculators, cftc, prof. greenberger, enron loophole, phil gramm, john mccain, bush, cheney, ice, ed wallace

TJColatrella says:

We must regulate once again the Futures market to really lower Oil prices the Republican drill here drill now is a total fraud..were lowering prices is concerned..!

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d96f7ca6-fa6a-4c50-a5f0-32aa75466a4b/4F35D186-6DD5-4A19-AB59-B96A59C643BC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.time.com/time/business/article/0,8599,1834888,00.html?xid=feed-yahoo-biztech" href="http://www.time.com/time/business/article/0,8599,1834888,00.html?xid=feed-yahoo-biztech" style="font-size: 11px;">www.time.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.time.com/time/business/article/0,8599,1834888,00.html?xid=feed-yahoo-biztech"><H1>Are Oil Prices Rigged?</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.time.com/time/business/article/0,8599,1834888,00.html?xid=feed-yahoo-biztech"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.time.com/img/FD680111-7C29-48FE-AB05-FC5E1BF13AAA" alt="Oil rigs extract petroleum in the Los Angeles area community of Culver City, California." /></div></blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content6.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.time.com/time/business/article/0,8599,1834888-2,00.html" href="http://www.time.com/time/business/article/0,8599,1834888-2,00.html" style="font-size: 11px;">www.time.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.time.com/time/business/article/0,8599,1834888-2,00.html"><P>
Thanks to margin in the futures market, you can trade ten times more oil
than you could otherwise afford. For only $9,000, you could control more
than $140,000 of oil at recent highs.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.time.com/time/business/article/0,8599,1834888-2,00.html"><P>
All told, about one billion barrels of oil are traded daily through futures
contracts at the New York Mercantile Exchange (NYMEX). This volume
significantly overshadows the 80 million barrels of oil consumed each day
worldwide. Yet this large volume of trading is misleading. Most of the
trades are just noise: speculators going for quick profits, taking a
position, and closing it out immediately.
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