Is this good?
Well I guess it is for us not having to pay such horrible prices for gas.
Every dollar that’s been spent on crude oil above the 35-45 a bbl range has been nothing more than speculator greed tax. This is a long overdue and very good thing.
Yes, this is real good. For example, during last years election cycle the price of oil rocketed to almost $150/barrel despite the global glut. This spike didn’t help Republicans because Dems used the “crisis” as a campaign tool. Then the Muslim gets into the White House and the price of oil sinks to $40/barrel. Then, we hear a Goldman Saks story were they purchased numerous oil futures during the election campaign and stored the oil in massive tanks in Connecticut. Now, G.S. is getting very sweat deals from the Muslim. Coincidence? Sounds like a soap opera story, but it’s all true.
no.
its never good when govt meddles
Well.... probably. The hedge fund positions in energy were/are motivated by the same sorts of considerations that drove the mortgage derivative market.
Speculation isn't bad per se, until it becomes divorced from the realities of the market in which the commodity being traded. Once that happens, the price of the commodity can do very strange things for reasons that have nothing to do with the actual supply/demand balance for the commodity itself.
There's some evidence that the price of oil was "artificially" high the last couple of years due to hedge funds trying to use an energy position to cover their losses in the mortgage market and elsewhere.
It is a reflection of the mistrust people with money have of Hussein. What will he do next? Despite the clear language of our Constitution, ex-post facto laws are common. There is legitimate concern that what an investor does today will be ruled illegal or will be heavily taxed long after the capital was invested.
FDR made the same mistake in 1937. He caused a depression within The Great Depression.
Yes this is good.... Keep Wall Street parasites out of the energy and oil markets. What will actually happen is they won’t be able to take huge positions in oil. Only genuine producers and buyers will be able too
This is a return to how it was before 2000
These markets will have good liquidity minus Goldman Sachs and like bottom feeders