Oil crisis simple solution - outlaw margin trading of commodities - why not?

Not that this joker would have any reason to lie, but is he saying then that 80% of the open interest is going to take physical delivery of the oil? A fund who buys it but doesn't trade it is indeed still a speculator.

 

Agreed. That sounds like complete horseshit.

 

how can we analyze what is going on if we don't know what is going on in the OTC markets?

 

Its the tree huggers who have stopped oil companies for looking for more oil for the last 30 years that are screwing us.

Democrats love to screw the lower income people so they and their MSM buddies can twist it around to blame the Republicans.

Everyone is a victim.

 

I'm just repeating what HE said.

http://www.nymex.com/media/052108.pdf

I scanned over the NYMEX's open interest but did not notice where it is broken down into specs and commercials the way the CME does it. But it's over 500 pages so I could have missed it.

 

I wasn't trying to shoot the messenger, merely pointing out the self-interest of his statement.

 

Congress can then hold hearings blaming Exxon and OPEC for not increasing production while they restrict domestic production.

 

Congress, nothing but hypocrites and traitors.

 

Where's your evidence to support this assertion?

 

Why didn't you buy gasoline futures to hedge your future consumption?