There go the gas prices.....up....Up....Up!

AB_Monterey · 04-08-2010, 10:04 AM

What happens with oil prices actually has very little to do with actual supply and demand. Since 2000 when Clinton signed the Commodity Futures Modernization Act (Gramm and Luger sponsored), the market has been driven by speculation. Prior to 2000, commodity trading was regulated.

After passage of the bill, traders had an officially deregulated market for energy futures. Worse, that bill also deregulated many financial instruments – including the collateralized debt obligations that are at the center of today’s mortgage crisis.

Here's a great summary:

http://www.engdahl.oilgeopolitics.ne...peculation.HTM

04-08-2010, 10:04 AM	#16
AB_Monterey Senior Member Join Date: Aug 2008 Location: Alton Bay Posts: 293 Thanks: 86 Thanked 78 Times in 49 Posts	This is probably not news to anyone here.... What happens with oil prices actually has very little to do with actual supply and demand. Since 2000 when Clinton signed the Commodity Futures Modernization Act (Gramm and Luger sponsored), the market has been driven by speculation. Prior to 2000, commodity trading was regulated. After passage of the bill, traders had an officially deregulated market for energy futures. Worse, that bill also deregulated many financial instruments – including the collateralized debt obligations that are at the center of today’s mortgage crisis. Here's a great summary: http://www.engdahl.oilgeopolitics.ne...peculation.HTM

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