It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Feds Probing Oil Speculators

page: 1
0

log in

join
share:

posted on May, 30 2008 @ 11:08 PM
link   

Feds Probing Oil Speculators


www.chron.com

WASHINGTON — Federal regulators — in a highly unusual move — revealed Thursday they have been conducting a wide-reaching probe into oil trading practices for the last six months.

And in response to growing concerns about the role speculators may be playing in driving up oil prices, the Commodity Futures Trading Commission said it will require energy traders to begin providing more information so the government can better assess what effect they may be having on the markets.

"Perhaps the CFTC has gotten some religion," said Michael Masters, of Masters Capital Management LLC, who has called for tighter regulation. Although, he added, "it's just a start."

With oil futures diving more than $4 Thursday, the commission went public about its probe. It is examining the purchase, transportation, storage and trading of crude oil and futures contracts — agreements to buy or sell commodities at a later date that are central to the energy markets.

(visit the link for the full news article)




posted on May, 30 2008 @ 11:08 PM
link   
HOLY CRUD is this long overdue! These "speculators" are absolutely KILLING this nation and raping us!! Hopefully they go after these greed-mongers ASAP and get control of this before the whole nation ends up pedaling bicycles around...


On Thursday, the commission said it would require energy traders to provide monthly reports on their index trading "to help the CFTC further identify the amount and impact of this type of trading."

House Energy and Commerce Committee Chairman John Dingell, D-Mich., said he was disappointed that the agency did not propose closing the loophole that allows some institutional investors to circumvent the speculative limits.

"The failure to corral this rampant speculation is not only ravaging consumers, but harming businesses such as airlines, trucking and auto manufacturers," Dingell said.




www.chron.com
(visit the link for the full news article)



posted on May, 30 2008 @ 11:12 PM
link   


With oil futures diving more than $4 Thursday, the commission went public about its probe.


It was suggested on the News show I watched this a.m. that the price started going down after the speculators found out they were being investigated.

[edit on 30-5-2008 by ATruGod]



posted on May, 30 2008 @ 11:30 PM
link   
Its great news and wayyy overdue , if its actually happening. Sorry but I tend to lean to the side of skepticism, and I generally wont believe it ,until I see it. Good find tho DD, I follow your posts fairly regularly, and your comments are relevant and well thought out, Thanxs for digging the info out for us.

My 2 cents worth

Dredz



posted on May, 30 2008 @ 11:37 PM
link   
reply to post by DimensionalDetective
 




" Feds Probing Oil Speculators "


DUDE!!!!!!!!!!!!!!!


Talk about a FARCE!!!!! Do you actually think they'd DO, ANYTHING????? OR will actually FIND anything incriminating?

I have 100% faith it'll be covered up, or a hundred to one odds a scapegoat
will be thrown to the wolves....



posted on May, 31 2008 @ 12:01 AM
link   
reply to post by toasted
 


You certainly have a point---Evidently they have already been investigating them for SIX MONTHS, and yet gas prices are still doing the roller-coaster thing anytime someone even rips a fart in the middle east.

ANY action or investigation is better than the "aww shucks", hands-up-in-the-air reaction we've been seeing from our gov for the past couple of years though IMO.

This crap is wiping out the very small middle class that is left, and CRIPPLING the poor...



posted on May, 31 2008 @ 12:08 AM
link   
I really don't think that this is going to do much unless they put serious restrictions in place to ban financial institutions to operate as commercial entities in the commodities market. Only if the take that step is that you are going to see this investors getting out of the business as they would see their chances to make a profit greatly diminish.

Also, I truly believe that this won't do much to lower has prices, what the speculator has manage to do in the oil market can really be replicated by othe entities that do not had to submit themselves to this government oversight, I think high prices are here to stay.




top topics



 
0

log in

join