[colorado tanker]

It's never good IMHO when the government interferes with free markets.

So-called "speculators" provide the equity that keeps many futures markets efficient. If it weren't for "speculators" it wouldn't be so easy for farmers or ranchers to hedge against price fluctuations or to lock in a price they like.

[agere_contra]

Agreed. The split between buy and sell price will widen, because all those evil speculators are no longer there to carry the risk.

Tough luck for people who need to buy oil in the long term ( after this short-term glut finishes). And who will FReepers blame then?

[org.whodat]

So-called "speculators" provide the equity that keeps many futures markets efficient. If it weren't for "speculators" it wouldn't be so easy for farmers or ranchers to hedge against price fluctuations or to lock in a price they like.

Pure 1000% bullshit!!!