Quote Originally Posted by killerweed420
I see some expert told congressmen today that the futures market accounts for 50% of cost of fuel so that would mean if we just shut down futures trading on oil and gas we would have $2 gas. If congress gave a shit they would just shut it down. The dems won't do it because then they would lose a lot of ground on enviormental issues. The repubs won't do it because them and there cronnies are the ones capitalizing on the futures market.
Will we ever not have any crooks running for congress?
Futures trading is very important to any commodity market, so you can't just "shut it down." But they do have to at least find out what is going on with this. I don't really get how a huge bubble in prices in the futures market could even develop --- I always thought successful trading in futures had more to do with being accurate about future market prices, not about high prices.
dragonrider Reviewed by dragonrider on . Speculative premium on oil at $ 60 a barrel: India Hit by the relentless rise in crude oil prices, India today sought an end to specualtive trading and suggested that oil producers and consumers vest control of the oil markets to cool overheated prices. An estimated 60 dollars per barrels is the "speculative premium" in the current oil prices, Petroleum Secretary M S Srinivasan said. "Speculative trading amounts to a few trillion dollars currently." India blames speculators working on the New York Mercantile Exchange for crude oil Rating: 5