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by Cale_Ramaker from Orlando

Last Post 2 days, 15 hours Ago


More fuel for thought...on oil investors
Jun 10, 2008 | 2:12 PM
Category: News
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My last blog on the matter of last Friday's massive jump in oil prices got quite the response! There is a lot of anger out there about gas prices and...it's justified!

I'm linking (below) a very interesting article published in last Friday's Washington Post. It's worth the read. Honestly I learned something I had no idea about: hedge funds and big banks actually buying huge oil contracts because of a loophole in the federal law. Kudos to the Post's David Cho for reporting some very interesting information.

LINK TO STORY
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Member Comments Total Comments: 7
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shadows read my blog
Jun 10, 2008 | 2:38 PM

I have seen several articles about this topic recently.

The Treasury Secretary defending "investors" and the fact that the Commodity Futures Trading Commission is at its lowest staffing levels in its history should tell you something about any forthcoming efforts to close the loopholes.

I wonder who could be making money on this loophole? Kinda reminds me of doing business with the Saudis at the expense of our national economy......but wait, I forgot that the Saudis are "investigating" the high oil prices.

And who was it that said that it would be foolish to talk to our "enemies"? ........I guess that we need to define the word "enemies."
Mater01 read my blog view my photos
Jun 10, 2008 | 4:51 PM

There are all kinds of loopholes that are being taken advantage of while the people go broke and some businesses go bankrupt! It was obvious that some are benefitting at our expense!
Ericjhach read my blog view my photos
Jun 10, 2008 | 6:29 PM

Everybody keeps saying its the American way as far as big business and making money. But in actuality its not the American way. The true American way is everyone helping everyone but those investors and oil exectuitives have forgotten about who and how they got that way. The new saying is"in search of the almighty dollar and the hell with the public". The problem is they have us stuck between a rock and a hard place and know it. What it is going to take is everyone standing up and making our elected leaders accountable for their actions and do something and do it now.
rottweiler7575 read my blog view my photos
Jun 10, 2008 | 9:27 PM

I have had several calls over the last year trying to get me to buy futures in the oil market, my buddy jumpped in and made alot of money, with 20,000 invested he made almost 500,000.. before tax's.. I'm always careful about where I put my money and hate to lose a dime, so this is way to risky for me...But I believe this is a big part of the cost of oil..
northton read my blog view my photos
Jun 11, 2008 | 4:42 AM

What if there were no risk. Would you join then?
smitty read my blog
Jun 11, 2008 | 10:23 PM

Dude, you got edited!
smitty read my blog
Jun 11, 2008 | 10:36 PM

The CFTC, the investors, speculators...they suck! THEY ALL SUCK!

Anyone got 50 G's I can borrow?
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Cale_Ramaker

Main Anchor for Fox 35 News at 6, 10 & 11pm Monday thru Friday.

Member Since: 7/13/2006


 

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