BoatBanter.com - View Single Post

Boating All Out

In article ,
says...

What makes you say that? I expect most people understand this but
it's one thing to understand it and another to have enough
corroborating information to cite the problem and call for change.

It was a good question Cantwell asked, and surprising to hear an oil
company exec answer the question honestly.
I suspect he was the only one of the CEOs who is an honest man.
I watched the hearings.
In regard to futures speculation, oil is a special case because
if affects EVERYBODY.
Who gives a damn that gold is $1500 an ounce or whatever?
It'll crash back down soon.
Industry can use substitutes, and jewelry consumers just stop buying.
My family won't buy gold jewelry at these prices.
Jewelry is more than 50% of the market.
But EVERYBODY gets slammed by oil futures speculation.
That's why alternative energy is needed so badly.
Raising trading margins could tamp down prices to near a realistic
supply/demand fundamentals rate, but the trading exchanges don't want
that.
Not sure what the Obama administration could do without Congressional
approval. He might have emergency powers, but chooses not to use them
for political reasons.
If he takes action, that would confirm he's a Mau Mau.
The Congress directs the CFTC.
It's Republican. Nothing will be done.
Zero. Zilch. Nada.