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So much data, you miss the fact for the spread sheet. Or the forest for the trees...

The price of oil is set by the buyer not the seller or the speculator.

If all the speculators went away, the price of oil would be set by the buyer still.

In fact, to quote you: "Over 95% of all crude contracts are NOT settled by delivery..."

Indeed, 95% of contracts are canceled before the delivery date, and are sold back into the market before delivery date. Why? Because the bottom line is at each month end, someone actually takes delivery of oil thereby setting the price.

It is precisely this market gibberish that the politico's are depending on to hide their fascist takeover. They need a scapegoat, and the speculators are a perfect target. Most sheeple if they think of a "speculator" think of some geek getting wealthy by not working and are willing to throw him to the wolves. Not too many realize that their retirement package is being managed by a speculator and it is their own future they will be throwing to the wolves. But the Politico's are quite willing to raid the last bank accounts with any money left in the country, the markets.

We have to fight this issue with all we have left in our bones not by enjoying our knoledge of the markets and speaking market geek, but by reducing the truth to street language so that the average guy in the street knows what this "Federal Market Regulation" is really all about, his retirement being feed to the political pork machine.

The primary reason the American Stock Exchange is the best in the world is we provide a tax haven for overseas investors. If we let the Demoncratic or RepublicRat rulers control the market, all the foreign cash will flow out of the market like Niagra Falls flows from Canada. Our economy will crash like Nagasaki. The Politicians won't care, they will be extracting a percentage of the flow into their own pockets. In the end, they will all be like Al Gore, preaching Prosperity to Paupers and riding gold plated BMW's...

As W.C. Fields once said:

''Go 'way, little boy, ya baahhhther me.''

The price of anything, you bloody moron, is set by a willing buyer and a willing seller when they agree on a price.

If specs went away from some mkt, entirely, what would happen is that the bid/ask spread in that mkt would widen out considerably, everyone's costs would go up, and there would be considerably fewer transactions in that mkt.

By the time ANYBODY in crude gets delivery, the price is absolutely guaranteed to have changed from both their entry price and the price at contract expiration. There's a lag of 15-45 days between contract expiration and delivery, therefore NEITHER the person making delivery nor the person taking delivery ''sets'' any sort of price whatever.

Take your economically illiterate gradeschool garbage out somewhere and bury it. Don't bother getting a life; get a clue about the operation of mkts somewhere.

Hey, maybe you can buy a clue, and ''set the price''. Jay-zus!