Did Speculation Fuel Oil Price Swings? Speculation Affected Oil Price Swings More Than Supply And Demand »
Posted By engineer 10 months, 3 weeks ago in Business & FinanceThe historic swings in oil prices last year were the result of financial speculation from Wall Street and not supply and demand
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engineer
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My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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mmrhe10 months, 3 weeks ago
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Excellent post engineer
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And I couldn't agree with you more!
The amazing thing to me is that the dregulation on this latest abomination was brought to you by ENRON!
As the former head of the federal agency in charge of the oil market said, "What Enron wanted, Enron got!"
And what they got was the feds off their backs so they could screw us without fear!
And where did all the analysts and operational people from Enron go after the bottom fell out at Enron?
Wall Street!
This is nothing short of traitorous behavior in my opinion and we need to hound congress to pursue this and fix it so we have complete transparency into the books of these "speculators".
Anyone involved in manipulating the price of oil for their own benefit at the peril of our nations economy is an economic terrorist.
We cannot take this sitting down any longer! -
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ekklesiawarriorComment removed: Hard Banned
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Republicrat1844Comment removed: Retracted by user3 Replies
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Justice4All10 months, 2 weeks ago
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Lots of interesting conspiracy theories here but little useful information.
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84% of the worlds oil is in the hands of national oil companies or the Russians. Wall Street can only influence the other 16%.
The time to act was in the 70's when we saw this problem coming. But America decided to opt for the best short term solution and do nothing. Now it's time to pay the price for all the cheap oil we had in the 80's and 90's. -
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mmrhe10 months, 2 weeks ago
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Are you saying that the billions of dollars that flowed into the commodity market had nothing to do with the rise this past summer?
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Do you not believe that prices can be driven up when huge sums of money are involved?
Who owns or produces the oil doesn't matter in this instance. This was the Big Money on Wall St playing the same game Enron did with natural gas that led to prices 300% over market value! -
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simonsez10 months, 2 weeks ago
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I was one that thought speculation was not a major factor, but now I see I was clearly wrong.
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Knowing this now has some value for us in that it is likely that the speculation will not continue and the price of oil may remain stable for several years, a huge plus for recovery. -
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