| |
 |
|
|
|
 |
|
 |
| |
| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
02-27-2011, 08:57 AM
|
#1
|
|
Hardcore Equipment Tester
Join Date: Mar 2001
Location: Abington, MA
Posts: 6,234
|
If the Arabs can get together and set the amount of oil they tap every day, why can't the Us shutdown the speculative market, why is there even a speculative market anyway? I mean once the oil is out of the ground, don't the big oil companies already purchase it from the arabs, I mean there is no middle man right?
|
Bent Rods and Screaming Reels!
Spot NAZI
|
|
|
|
02-27-2011, 01:15 PM
|
#2
|
|
Mosholu
Join Date: Feb 2007
Location: NYC
Posts: 440
|
Quote:
Originally Posted by TheSpecialist
If the Arabs can get together and set the amount of oil they tap every day, why can't the Us shutdown the speculative market, why is there even a speculative market anyway? I mean once the oil is out of the ground, don't the big oil companies already purchase it from the arabs, I mean there is no middle man right?
|
The US can not effectively do anything against energy speculation currently because they lack effective means to regulate the market. The electronic trading of oil contracts are exempt from the CFTC's large trader reports which is the CFTC's main way of regulating the markets. This was done in 2000 at the request of Enron and other large energy traders. Despite Enron and all that has gone on since with Dodd-Frank the exemption remains on the books. In addition energy traders can trade on ICE in the UK where their trading is outside the scope of the CFTC. |
|
|
|
|
|
|
02-28-2011, 01:26 PM
|
#3
|
|
Registered User
Join Date: Jul 2008
Posts: 20,441
|
Quote:
Originally Posted by mosholu
The US can not effectively do anything against energy speculation currently because they lack effective means to regulate the market. .
|
We can drill our own oil, and tell OPEC to take a hike...of course, it will take awhile for that to bear fruit.. |
|
|
|
|
|
|
02-28-2011, 07:06 PM
|
#4
|
|
Mosholu
Join Date: Feb 2007
Location: NYC
Posts: 440
|
Quote:
Originally Posted by Jim in CT
We can drill our own oil, and tell OPEC to take a hike...of course, it will take awhile for that to bear fruit..
|
Unless you have transparency in the markets they can be gamed by speculators no matter what the source of the oil is. |
|
|
|
|
|
|
03-01-2011, 08:14 AM
|
#5
|
|
Also known as OAK
Join Date: Apr 2003
Location: Westlery, RI
Posts: 10,413
|
Quote:
Originally Posted by Jim in CT
We can drill our own oil, and tell OPEC to take a hike...of course, it will take awhile for that to bear fruit..
|
And we do not have an infite supply of domestic, economically useful oil.
Natural gas, we have a lot of however.... |
Bryan
Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
"For once I agree with Spence. UGH. I just hope I don't get the urge to go start buying armani suits to wear in my shop"
|
|
|
|
| Thread Tools |
|
|
| Display Modes |
Rate This Thread |
 Hybrid Mode
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -5. The time now is 06:52 AM.
|
| |
