There is no transparency whatsoever in the trading of oil on the commodity exchanges. We don't know who is taking positions and for whose account.
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Quite dramatically, being the biggest bull in the China shop, JPMorgan Chase made the striking announcement this past week that it would quit trading in physical commodities.
In the face of escalating gas prices, the oil patch, their allies and Wall Street are counting on your ignorance permitting them to pick your pockets, spoon-feeding you nonsense while they cash in massively.
It is long past time that our government take seriously and study intensely how oil prices are determined in a world of OPEC, speculation, timid oversight and failing transparency.
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