[RayChuang88]

I've heard on CNBC and read from several news sources that commodities hedge fund traders could be controlling as much as forty percent of the price of oil, driving it up to make a profit at the expense of the rest of the economy.

That's why you REALLY have to openly wonder if one George Soros--a notorious fund trader that heavily contributed to the Asian financial crisis of 1997-2000--may be one of the driving forces behind this. Soros could have had quiet "handshake" agreements with powerful people like Warren Buffett, traders in Europe, traders in the United Arab Emirates, traders in eastern Asia, and quietly sent slush fund money to Venezuela's Hugo Chavez and Iran's Mahmoud Ahmadinejad to deliberately sabotage the petroleum market to ensure a Democrat in the White House.

[mainerforglobalwarming]

I'm to the point now where I say let's do what liberals want and spread the misery around. Let's destroy Venezuela’s and Iran's oil fields and send the world into a complete mess. Then we'll have no choice but to drill and explore for oil in the nation.

[ishabibble]

Very astute assessment. George Soros wants to be “king of the world”, IMHO, and this is exactly how he plans to accomplish this, and that's why he backs a weakling like Obama, who will be so easy to manipulate.

[Thebaddog]

That's why you REALLY have to openly wonder if one George Soros--a notorious fund trader that heavily contributed to the Asian financial crisis of 1997-2000--may be one of the driving forces behind this.

Stretch that thought into the idea that he might be funding political campaigns for the democrats with all those profits. Who really knows who those Internet donees are. Someone could be manufacturing accounts for deposit.

[Robert A Cook PE]

I too am very, very suspicious of the “invisible” oil traders who are driving the oil prices up.

Deliberately? Certainly.

But if (when ?) we find out WHO they are, then the motives becomes more clear. It may not be Soros. But artificially driving up (then down) prices after a country or industry is locked into a commitment IS a tactic that Enron and Soros have used before.

Soros is determined to destroy the US, and manipulating oil prices is a good fast way to do it.

[lexusppd]

It's a bubble. Like all bubbles, real estate, tech, you name it, it will end badly for the poor suckers in last. In time, and I have no crystal ball, the crash will be upon us. There will be no warning and it won't happen in a day but will begin slowly on a bit of negative news for traders. When the pros, who know more about trading and what to look for in getting in or out, do not buy on the dip, the slide will continue and then begin to accelerate. Soon enough people will be looking to get out of their contracts that there will be an imbalance which the market makers will be unable to easily control. Finally we get to the “get me out and I don't give a sh*t what the price is” time and the blood will run in the streets (or the trading pits).

Oil will again be where it belongs today, at about $55-60bbl

[IronJack]

I've believed this from the outset. Speculation in any commodity, especially one as volatile as crude and refined fuels, can't HELP but have an impact on price. Only a fraction of these speculators ever intend to take delivery, so their participation in the market only serves to create an artificial demand that drives the price for the real commodity higher. This isn't about "hedging"; it's about an entire industry of parasites artificially manipulating the market -- and the PERCEPTION of the market -- so as to make a lot of money for doing nothing.

In the old days, they were called "profiteers," and it wasn't unusual to see them hanging from lampposts when an enraged and exploited populace finally figured it out.

[Toddsterpatriot]

I've heard on CNBC and read from several news sources that commodities hedge fund traders could be controlling as much as forty percent of the price of oil, driving it up to make a profit at the expense of the rest of the economy.

How do they drive it up and make a profit?

[curiosity]

I've heard on CNBC and read from several news sources that commodities hedge fund traders could be controlling as much as forty percent of the price of oil, driving it up to make a profit at the expense of the rest of the economy.

So where are they keeping all this oil that they are supposedly buying up?

[SunkenCiv]

IMHO, you’re right on the money.

Thanks neverdem for the link.

[HamiltonJay]

He branded institutional investors such as pension funds as "one of if not the primary factors affecting commodities prices today."

There you go folks, I've been saying this for over 3 years now, and you've all called me insane for pointing out the blaringly obvious fact. Now here is one of those hedge fund managers openly admitting the truth.

So go take your "market is god" idiotic mentalities that yoru political rhetoric pin heads on talk radio regurgitate and stuff it. This is no different than what Standard Oil was doing over 100 years ago, only now its not one single entity doing it, but a collusions among the wealthy themselves to hose the people.

Unfettered capitalism is not moral, its an economic system.. it is AMMORAL, the morality of the US system comes from the judeo-christian based laws applied to it. Capitalism left to its own devices has no issue at all with the captal holders screwing the masses for their own benefit. And that's all thats been going on with Oil now for about 3-5 years.

[RightWhale]

Another article diligently pointing out anything but the True Cause.