You do know the largest oil speculator are .... governments? No you didn't know and you don't care to know because it conflicts with you idea of reality.<quoted text>
What makes you think an American oil company in the Middle East is going to give you a good deal?
TEXAS REPUBLICAN SENATOR PHIL GRAMM & ENRON MANIPULATING OIL PRICES./ Michael Greenberger, Former Director, Commodities Future Trading Commission 1997-1999./ August 5, 2009 / WASHINGTON, DC: June 24, 2008
Michael Greenberger discusses the role of unregulated oil speculators on the buying and selling of oil futures. He says legislation passed in 2000 created an environment where oil speculators influence the current day price of oil and other crude products.
http://www.cftc.gov/ucm/groups/public/ @newsroom/documents/file/heari ng080509_greenberger.pdf
Speculators' Impact on Oil Market
May 27, 2008 / http://tinyurl.com/mor2rek
Michael Greenberger believes that legislation passed in 2000 created an environment where oil speculators influence the current day price of oil and other crude products. He talked about how the legislation created the situation and current day efforts (via the Farm Bill) to close loopholes that were created in 2000.
From Inventing Oil Derivatives To Deregulating The Market
June 6, 2011 / http://tinyurl.com/3ar3tlh
In April, ThinkProgress caused a stir when we uncovered a series of Koch Industries corporate documents revealing the company’s role as an oil speculator. Like many oil companies, Koch uses legitimate hedging products to create price stability. However, the documents reveal that Koch is also participating in the unregulated derivatives markets as a financial player, buying and selling speculative products that are increasingly contributing to the skyrocketing price of oil. Excessive energy speculation today is at its highest levels ever, and even Goldman Sachs now admits that at least $27 of the price of crude oil is a result from reckless speculation rather than market fundamentals of supply and demand./ http://thinkprogress.org/report/koch-oil-spec...
Tell me, are governments/people who speculate in food comodities equally evil?