Should the government crack down on oil speculators ?

SparkyMac

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Mon Jun-23-08 11:50 AM
Original message

Should the government crack down on oil speculators ?

CNBC asks this question in their poll for today. I'm sure they'd love to hear from people other than their Republican base :-)

http://www.cnbc.com/id/25329659/site/14081545/

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whistle

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Mon Jun-23-08 11:51 AM
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1. Certainly, there are only 2,100 of them

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sharesunited

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Mon Jun-23-08 11:55 AM
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2. The DOE should be authorized to sell futures agaist the SPR.

And close out those contracts upon the resulting decline in per-barrel market price.

We don't need to "crack down" on speculators. They provide liquidity to the market and they can be beat at their own game.

700 million barrels in the SPR can be made to speak very loudly. And not a drop of it actually needs to be drained.

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Overseas

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Mon Jun-23-08 11:57 AM
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3. 74% say YES !

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aint_no_life_nowhere

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Mon Jun-23-08 11:58 AM
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4. They have been reading messages condemning the speculators

which has surprised me. And they had talking heads on air, discussing how everyone and his uncle is now involved in commodity speculation, including universities and union pension funds. There was someone on there who pointed out that commodities speculation has increased by 20 times (TWENTY TIMES!!!) in the last five years.

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