So let me get this straight...Congress wants to limit American traders/speculators, but they don't say who the prices would be set by then. Prices will still be set by our fellow Middle Easterns. Why should we try to micro-manage the price we pay for a luxury that we don't have? I don't go to the supermarket to buy a loaf of bread that is listed at $2.50, and I say I'll only pay $1.75 for it. They obviously won't give it to me. If $80 oil comes, all OPEC has to do is cut production and we would feel the rise in prices at the pump no matter what.
This is just bullshit political crap that both the Dems and Republicans are using to calm down voters ahead of the election. I frankly hate it and say they should let free markets be free markets. Why impose implicit regulations against something that has worked for years. We need market makers/speculators/traders like you and me to make a market for something and have a set price. Remember there is a buyer for every seller and that longs generally are more capitalized than shorts (long-commodity funds are not leveraged), so this restricting on margin or trading limits would just drive prices up even more.
Here's an idea: (not that I like raising taxes), Raise the gasoline tax, develop alternative energy, stop worrying about getting foreign oil for a "cheaper" price and worry about getting energy from our homeland where in a sense it's free and we can become the world power once again.
Americans have to realize that we don't have a right to foreign oil (it is a product that is provided to us at a cost) and that they have a choice in their elected leaders and choosing how we go about with our energy crisis.
This is just bullshit political crap that both the Dems and Republicans are using to calm down voters ahead of the election. I frankly hate it and say they should let free markets be free markets. Why impose implicit regulations against something that has worked for years. We need market makers/speculators/traders like you and me to make a market for something and have a set price. Remember there is a buyer for every seller and that longs generally are more capitalized than shorts (long-commodity funds are not leveraged), so this restricting on margin or trading limits would just drive prices up even more.
Here's an idea: (not that I like raising taxes), Raise the gasoline tax, develop alternative energy, stop worrying about getting foreign oil for a "cheaper" price and worry about getting energy from our homeland where in a sense it's free and we can become the world power once again.
Americans have to realize that we don't have a right to foreign oil (it is a product that is provided to us at a cost) and that they have a choice in their elected leaders and choosing how we go about with our energy crisis.