Cheap Money and Rampant Speculation Drive Skyrocketing Oil Prices–Videos

Posted on January 18, 2011. Filed under: Agriculture, Banking, Blogroll, Communications, Crime, Economics, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Technology, Video, Wealth, Wisdom | Tags: Commercial Banks, Energy Prices, Future Contracts, inflation, investment, Investment Banks, Regulation, speculation |

  

Hearing on Energy Speculation, Gas Prices: Masters Testimony

 

Hearing on Energy Speculation & Gas Prices: Stupak Questions

 

Goldman Vet Sparks Conflict On Hill

 

CFTC Crackdown On Commodity Speculation – Bloomberg

 

 

Inside Look – Future of the CFTC – Bloomberg

 

CFTC Chairman Nomination Hearing Questions

 

Peter Schiff – Warren Buffett is Dead Wrong

 

Commodity Prices Reach a Two-Year High

 

Cantwell and McCain Hold A Press Conference

 

Oil Price Manipulation 1

 

Oil Price Manipulation 2

 

Oil Price Manipulation 3

 

Oil Price Manipulation 4

 

Oil Price Manipulation 5

 

Oil Price Manipulation 6

 

Oil Price Manipulation 7

 

Oil Price Manipulation 8

 

Oil Price Manipulation 9

 

Oil Price Manipulation 10

Oil Price Manipulation 11

 

Oil Price Manipulation 12

 

Oil Price Manipulation 13

 

Oil Price Manipulation 14

 

Blame High Gas Prices on Laziness and Greed

Just as the U.S. economy seems about to recover, oil speculators are again ratcheting up gas prices. Don’t let them get away with it, says Ed Wallace

“…Of course the oil pundits—whether industry analysts, commentators, lobbyists, or executives—validate the high price of oil. They usually do, saying as always that either gasoline supplies or crude oil on hand is in short supply, hence the increased prices. But that hasn’t been true. Gasoline inventories on Dec. 17 were 217 million barrels, slightly more than gasoline inventories in the last week of February 2009—when the price of crude neared $33 a barrel in the wake of the previous fall’s financial meltdown.

Likewise on Dec. 17, oil inventories in the U.S. stood at 340.6 million barrels. That’s only 10 million barrels less than we had in the last week of February 2009—again, when oil had fallen back to $33.

Fact is, we have more oil on hand today (13 million barrels) and just three million barrels of gasoline less than we did at the end of January 1999, a period when gasoline prices were down near the $1 mark. As for strong economic growth dictating higher oil and gas prices, it should be noted that our GDP grew 5.4 percent in late 1998—and growth would improve to 7.1 percent at the start of 1999. Yet gasoline was a buck a gallon. …”

“…Yes, it’s 2008 redux: Energy prices are rising in the face of four-year weakened U.S. demand and high inventories worldwide.

At this rate, it won’t take long until skyrocketing oil and gasoline prices drag the current economic recovery to a halt. Worse, if oil and gasoline prices go up for consumers and business in 2011 by a substantial amount, reducing the unemployment numbers may not be possible. …”

“…After all, speculators who never intend to take delivery of one drop of oil continue to plow more cheap capital into those contracts, thereby distorting the real discovery price.

After five years of this costly behavior, it has become clear that they’re not going to change if they don’t have to. The government could fix this problem quickly by severely reducing the amount of leverage or borrowing permitted to purchase commodity contracts and by raising interest rates. But neither move seems likely. …”

http://www.businessweek.com/lifestyle/content/dec2010/bw20101230_850060.htm 

Background Articles and Videos

 

FRONTLINE: THE WARNING – Part 1

 

FRONTLINE: THE WARNING – Part 2

 

 

FRONTLINE: THE WARNING – Part 3

 

FRONTLINE: THE WARNING – Part 4

 

FRONTLINE The Warning PART 7

Petrodollar, Petrodollar warfare 1

 

Petrodollar, Petrodollar warfare 2

 

Petrodollar, Petrodollar warfare3

 

 

Michael Greenberger Talks Speculation In Commodity Markets

Derivatives Warning – Michael Greenberger interview

Mike Masters on Regulating Commodities Speculation

 

CHHS Director explains derivatives regulation on C-SPAN – 5/15/09

 

The Biz Flog — Blaming Oil Speculators for High Gas Prices

The Oil Speculator

Hedge Funds’ Black Gold – Why the oil price is so high PART1

 

Hedge Funds’ Black Gold – Why the oil price is so high PART2

 

Cost of carry model to price forwards & futures

 

Contango & backwardation in commodity forward markets

 

List of the Primary Government Securities Dealers Reporting to the Government Securities Dealers Statistics Unit of the Federal Reserve Bank of New York

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