CBSNews reports that the US government is making moves to stop oil speculation. According to the report, the Commodity Futures Trading Commission (CFTC) is working on regulating oil speculators by setting limits on the amount of oil that they can hold and how long it can be held. Aside from that they are working to improve transparency in the process so it can be easily seen who is speculating.
Just recently a controversial article came out of Rolling Stone Magazine that detailed how present and past executives from Goldman Sachs were working together to orchestrate artificial investment bubbles that would earn millions for them at the expense of the tax payers and other world economies.
With the recent drop in the oil price, could this mean that speculators are keeping their hands off the oil futures market already?
This site has long suspected oil speculators to be the cause of high oil prices.
Category: Oil, Oil Price
