DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Oil and gasoline prices falling today due to SPR decision

**erepsysoulperj** · 06-23-2011, 04:00 PM

I really wasn't in favor of this 30 day "event" but what it does show is that spanking the speculators works. The chairman of the Commodities Futures Trading Commission (CFTC) said a couple of weeks ago that 88% of the "long" crude contracts (bets that oil prices will go up) were owned by non-producers or consumers of oil. These are big banks and hedge funds with big bucks, who day-trade and profit on price swings. They're changing their bets today, and you can see the results.

A more permanent strategy would be imposing position limits and transparency requirements on this niche market.

06-23-2011, 04:00 PM	#5
erepsysoulperj Join Date Oct 2005 Posts 387 Senior Member	I really wasn't in favor of this 30 day "event" but what it does show is that spanking the speculators works. The chairman of the Commodities Futures Trading Commission (CFTC) said a couple of weeks ago that 88% of the "long" crude contracts (bets that oil prices will go up) were owned by non-producers or consumers of oil. These are big banks and hedge funds with big bucks, who day-trade and profit on price swings. They're changing their bets today, and you can see the results. A more permanent strategy would be imposing position limits and transparency requirements on this niche market.
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