Analysis: As U.S. gasoline prices soar, hedge fund oil bets near record

Comments (8)
dexterbland wrote:

High commodity prices are another impost on consumers, levied by the financial sector for the enrichment of their management and shareholders. Its all fun and games until the broader economy collapses.

Feb 12, 2013 6:18pm EST  --  Report as abuse
americanguy wrote:

Yes massa, please bleed my tired old body of all my money.
Thank you massa Wall Street.
WE ARE ALL SLAVES to the wealthy.

Feb 12, 2013 7:27pm EST  --  Report as abuse
nose2066 wrote:

Is it possible that the government of Iran actually does want to use nuclear energy for generating electricity, so that they can use the electricity inside Iran as a substitute for oil, and export that expensive oil to other countries? It would make economic sense for them.

Feb 12, 2013 9:31pm EST  --  Report as abuse
hindumuninc wrote:

Consumption of Oil has outpaced production (with the difference made up by falling reserves) every year since 2004 (except 2008 due to the financial crisis and subsequent fall in demand). Part of the increase in prices is certainly speculation, but the speculators are completely founded considering the legitimate shortfall in supply which guarantees higher prices in the future. The markets are automatically smoothing consumption by bringing forward the discounted value of future price increases. People are in denial of the FACT that we are nearing the maximum global production of oil. People point to North Dakota and say: “See we’ve got plenty”. But they ignore the fact that Norway’s oil production has been falling every year since 1998; Mexico’s production has been falling since 2004; Venezuela can’t keep production up due to its ridiculous policies; we’ve essentially made it illegal to buy oil from Iran that’s about 3 million barrels off the market right there. I really wish people would look at the facts before assigning blame.

Feb 12, 2013 10:12pm EST  --  Report as abuse
EarlRichards wrote:

Google the “$2.5 Trillion Oil Scam – slideshare” and global the “Global Oil Scam.” The US is a victim of this scam. Plug your electric car into your household, solar power battery.

Feb 13, 2013 5:50am EST  --  Report as abuse
EarlRichards wrote:

Fiscal cliff, the laws of supply and demand, debt ceiling, global markets, OPEC, the Straits of Hormuz and so on, are not responsible for high oil and gasoline prices, which are causing the recession and could lead to depression. The oil price is dictated by the fraudulent “round-trip” trades of the “dark pool” trading in the IntercontinentalExchange (ICE) in Atlanta. The international Big oil/big banking cabal, or an international gang of criminals, owns ICE. ICE operates outside of US law, considers itself to be above the law and can commit fraud and law enforcement cannot do anything. The Commodity Futures Trading Commission has no jurisdiction over ICE, influenced by Big Oil. ICE’s speculators and traders can ratchet-up the oil price any time they feel like it, for any flimsy excuse, for their own profits and on the behalf of Big oil, using “round-trip” trades and other oil market manipulations. The NYMEX has the “Dubai Loophole” and the ICE has the “London Loophole.” “Paper oil” and the crude oil futures markets have to be done away with. Cash at the wellhead. Over 75% of crude oil futures trading takes place in the ICE. ICE Futures Europe is a subsidiary of ICE. The NYMEX is a decoy market. ICE is a super Enron. The “Enroning” of California was a test-market for ICE. Enron Online was a test-product for ICE’s online, trading platform. Oil is too critical a resource to be controlled and manipulated by greedy corporations, greedy traders, greedy refiners and greedy speculators. Cash on the barrelhead. To obtain a fair oil price, Senator Sanders and the other senators have to investigate ICE and seize immediately the trading records of ICE, before they are destroyed and end the specter of ICE and end this crime against humanity.

Feb 13, 2013 12:23pm EST  --  Report as abuse
taser_this wrote:

Please let me know where to send the thank you note.

“Consumers shouldn’t complain,” said a London-based manager of a commodity hedge fund who declined to be named. “Sustained higher prices led to a massive increase in U.S. production and decreased U.S. demand, which is helping the economy in a big way.”

Feb 13, 2013 2:26pm EST  --  Report as abuse
CMDibe wrote:

There is a glut of oil on the market today, and prices should be going down. It’s long over due the gamblers manipulating the market are thrown out. The pobvious.

Feb 14, 2013 2:32am EST  --  Report as abuse
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