Originally Posted by
dhussdawg
Exactly, the EU, I am serious because you would think they would grind this axe worse than the US, but our politicians are driven by the delusional masses that are the US public, who believe that their way of life should never be questioned or adjusted because we are free and entitled to it. That is fine, keep sticking your head in the sand. Regulate the hell out of it and when oil goes to 150 dollars again, then who are you going to pin it on? You obviously have little understanding of economics. Once again, the speculators were proven to be on the other end of those contracts, continually selling the whole time, not bidding the price up. You are probably one of those who thinks we should get rid of futures because you dont understand how much they help producers of oil and how they need speculators there to take on that price risk for them, so they can focus on the what they do best.
All anybody is doing is speculating, but how much premium does it add to the market? All we can do is speculate about the future and what we think will happen and reality ends up shaping the price as we get closer (most of the time). You have no proof or a number, just talking points from the jugheads at Congress.