A little regulation for oil trading the ‘London Loophole’
June 29th, 2008
http://www.iht.com/articles/2008/06/18/business/oil.php
This will not have a huge impact yet, but it will soon as regualtion and awareness on capitol hill of the actual loophole.
CSPAN link: Energy Security Hearing CSPAN
- ICE Futures are adding 30 50% to Barrel and Pump Prices
- Futures Traders are driving to failure like a Tick engorging itself the price of oil
- Traders are screwing with the price and they don’t care about the oil bubble
Quote:
“U.S. regulators are feeling pressure from Senate lawmakers to rein in what they see as excessive speculation in commodities markets, which they believe is the culprit behind record prices for crude oil that have risen nearly 40 percent since January.”