The Wrestling Talk Forums - View Single Post - Oil energy futures speculation drives rising cost

ccbig · 06-26-2008, 04:00 PM

I have heard this discussed on talk radio and seen some articles about it.

Oil futures trading used to be regulated because it was considered a strategic commodity. Since deregulation prices have sky-rocketed with many ENRON like trading practices and possible price fixing going on.

Clip from article-

Oil energy futures speculation drives rising cost
by End the Enron deregulation loopholes!! Tuesday, Jun. 03, 2008 at 11:12 AM

Senate hearing covers rising price of oil, witnesses testify that continued deregulation of energy futures speculation encouraged by ENRON-esque corporations is approx 1/3 of the price at pump..
by Tuesday, Jun. 03, 2008 at 2:06 PM
Today on C-SPAN there were Senate hearings about the rising price of oil, and several expert witnesses, George Soros, Mark Cooper and others testified before Senate members that three factors contribute to rising oil costs; increasing demand and decreasing supply (creeping peak oil), price fixing by OPEC & petroleum corporations AND energy futures speculation by ENRON-esque corporations that continue to benefit from deregulation of speculation on future energy markets, aka the "ENRON loopholes". The easiest factor to reduce the ransom price of oil by at least 1/3 of current prices is to regulate energy futures speculation and close the ENRON loopholes..

Link to the complete article-

http://houston.indymedia.org/news/2008/06/64009.php

06-26-2008, 04:00 PM	#1 (permalink)
ccbig NCAA Champ Join Date: Feb 2008 Location: Minnesota, USA Posts: 1,056 Tournaments Joined: 2 Tournament Wins: 0	Oil energy futures speculation drives rising cost I have heard this discussed on talk radio and seen some articles about it. Oil futures trading used to be regulated because it was considered a strategic commodity. Since deregulation prices have sky-rocketed with many ENRON like trading practices and possible price fixing going on. Clip from article- Oil energy futures speculation drives rising cost by End the Enron deregulation loopholes!! Tuesday, Jun. 03, 2008 at 11:12 AM Senate hearing covers rising price of oil, witnesses testify that continued deregulation of energy futures speculation encouraged by ENRON-esque corporations is approx 1/3 of the price at pump.. by Tuesday, Jun. 03, 2008 at 2:06 PM Today on C-SPAN there were Senate hearings about the rising price of oil, and several expert witnesses, George Soros, Mark Cooper and others testified before Senate members that three factors contribute to rising oil costs; increasing demand and decreasing supply (creeping peak oil), price fixing by OPEC & petroleum corporations AND energy futures speculation by ENRON-esque corporations that continue to benefit from deregulation of speculation on future energy markets, aka the "ENRON loopholes". The easiest factor to reduce the ransom price of oil by at least 1/3 of current prices is to regulate energy futures speculation and close the ENRON loopholes.. Link to the complete article- http://houston.indymedia.org/news/2008/06/64009.php __________________ If we don't fight hard enough for the things we stand for, at some point we have to recognize that we don't really stand for them. ~Paul Wellstone~