Oil crisis simple solution - outlaw margin trading of commodities - why not?

Quote from Lucrum:

I saw a NYMEX rep interviewed this morning. According to him only 20% of the oil futures open interest are speculators and 1/2 of them are short.
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Not that this joker would have any reason to lie, but is he saying then that 80% of the open interest is going to take physical delivery of the oil? A fund who buys it but doesn't trade it is indeed still a speculator.
 
Quote from hilojack:

Not that this joker would have any reason to lie, but is he saying then that 80% of the open interest is going to take physical delivery of the oil? A fund who buys it but doesn't trade it is indeed still a speculator.
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Agreed. That sounds like complete horseshit.
 
Quote from newbunch:

The US has oil, but Congress won't let us drill for it.
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Its the tree huggers who have stopped oil companies for looking for more oil for the last 30 years that are screwing us.

Democrats love to screw the lower income people so they and their MSM buddies can twist it around to blame the Republicans.

Everyone is a victim.
 
Quote from hilojack:

Not that this joker would have any reason to lie, but is he saying then that 80% of the open interest is going to take physical delivery of the oil? A fund who buys it but doesn't trade it is indeed still a speculator.
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I'm just repeating what HE said.

http://www.nymex.com/media/052108.pdf

I scanned over the NYMEX's open interest but did not notice where it is broken down into specs and commercials the way the CME does it. But it's over 500 pages so I could have missed it.
 
Quote from Lucrum:

I'm just repeating what HE said.

http://www.nymex.com/media/052108.pdf

I scanned over the NYMEX's open interest but did not notice where it is broken down into specs and commercials the way the CME does it. But it's over 500 pages so I could have missed it.
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I wasn't trying to shoot the messenger, merely pointing out the self-interest of his statement. :D
 
Quote from jficquette:

Its the tree huggers who have stopped oil companies for looking for more oil for the last 30 years that are screwing us.

Democrats love to screw the lower income people so they and their MSM buddies can twist it around to blame the Republicans.

Everyone is a victim.
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Congress can then hold hearings blaming Exxon and OPEC for not increasing production while they restrict domestic production.
 
Quote from newbunch:

Congress can then hold hearings blaming Exxon and OPEC for not increasing production while they restrict domestic production.
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Congress, nothing but hypocrites and traitors.
 
Quote from travelingtrader:

Oil crisis simple solution - outlaw margin trading of commodities - why not?

As others have pointed out, it would be very easy to pop the commodity bubble and have $35 oil and $1.25 gas if margin trading of commodities was outlawed.
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Where's your evidence to support this assertion?
 
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