Certainly the FTC has its work laid out. The big question now is will they follow through or go the way of the "Oil/Gas Pricing Fraud Panel" of April 2011 from which we have yet to hear a single note?
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The transfer of billions upon billions of dollars from American and world consumers to oil interests both domestic and foreign continues on and will continue in spite of the programs enunciated by the president.
Since we'll never eliminate the commodity exchanges that trade oil futures, we must at least control speculation and trades.
It is clear that the price of oil as currently constituted no longer has anything to do with the market dynamics of supply and demand.
"Manipulation" is immeasurably more sinister than "Speculation." It bespeaks of controlling, orchestrating and maneuvering to falsify and rig.
Speculation and psychology go hand in hand. The Department of Energy has it within its powers to change the temper of the marketplace.
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