Feds Probe Possible Oil Price Manipulation?
Feds Probe Possible Oil Price Manipulation
Federal regulators are six months into a wide-ranging investigation of U.S. oil markets, with a focus on possible price manipulation.
The morning news is reporting the CFTC (Commodities Futures Trading Commission) has been investigating speculatalors.
What if anything do you thing this will have on the price of oil? And have you noticed the price of crude oil has been dropping and yet the price at the pump has remained constant?
http://www.topix.net/us/2008/05/feds-probe-possible-oil-price-manipulation
http://business.blogs.cnn.com/2008/05/21/whos-to-blame-for-high-oil-prices/
This morning’s oil price is $124.67 a barrel
http://www.indianagazette.com/index.php?option=com_content&task=view&id=28223&Itemid=124
Tagged with: Cnn • Oil Price • Oil Prices
Filed under: Commodity Trading
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I’m guessing they’ll milk it to the last drop. Face it, the oil companies have enough money to tie this up in court for years. While I’d love to see an Enron finale to all this price gouging, I just don’t see it happening. Just like the Robber Barons of old.
None at all. Just more casting shade away from where the problem is. If they wanted to do something about it, they could in a heart beat, simply by adding a margin requirement to trade in oil futures. With Union Pension Funds and the Harvard Endowment owning 90 Billion in them, the chances of that happening are zero.
Bureaucrats trying to justify their existence.
Oil is an internationally traded commodity. Speculators bid up the price of oil because the demand has been relatively inelastic.
There is no instantaneous connection between the price of oil and the price of gasoline.
If you think the price of gasoline is too high, don’t buy it.
Whew!
We can all relax now that the Feds are on it.
I’d love to see the oil companies being found to be ripping off the American public! I doubt anything will happen until the chimp leaves office simply because he will do whatever is necessary to cover up any wrong doing. He has made his fortune off oil as well as others. A crook is a crook no matter what a crook wears!