What a douche bag O'reilly is.. He didn't even know what a futures contract was before last week! I can't stand ass wipes that go on ranting and raving about things they don't know anything about.. At least Karl Rove put his ass in check.
No, I watched that rant, and it was obvious that he doesn't know anything about the futures market. He doesn't understand that it is a critical tool for hedging, and he doesn't understand that the speculators provide liquidity. The small spec has nothing to do with prices. Put some kind of controls on the funds who play in all kinds of crude related stuff, but leave the small trader, who is often wrong anyway, alone. There is a short for every long in futures anyway.