Feds Probe Possible Oil Price Manipul...

Feds Probe Possible Oil Price Manipulation

There are 68 comments on the cbs5.com story from May 29, 2008, titled Feds Probe Possible Oil Price Manipulation. In it, cbs5.com reports that:

Federal regulators are six months into a wide-ranging investigation of U.S. oil markets, with a focus on possible price manipulation.

Join the discussion below, or Read more at cbs5.com.

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Richard

Canton, OH

#1 May 29, 2008
Should carry the death penalty, if guilty.
FloridaMike

Saint Augustine, FL

#2 May 29, 2008
ask anybody pumping gas... they all know there is racketeering.... except for the goobermint...can't find wmd's or racketeers...

“Did U plug the damn hole yet?”

Since: Jan 08

Dallas, TX

#4 May 29, 2008
Richard / FloridaMike,

It doesn't sound like the usual suspects - the oil companies - are under investigation.

It appears that oil market traders are the targets.
Winston Smith

Vail, AZ

#5 May 29, 2008
Unbelievable, a government that took us to war to manipulate oil prices now investigating the manipulation of oil prices
JAMES ECUADOR

Quito, Ecuador

#6 May 29, 2008
Dick Chaney-George Bush oil men, lots of stock in the right places. When will america finally wake up.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#7 May 29, 2008
There should be a 100% tax on all oil futures.

There should be an excess profits tax on all petroleum corporations.

“It's 420 here.”

Since: Jun 07

cold comfort farm

#8 May 29, 2008
Before Enron folded they successfully saw to legislation that forbade disclosure of the speculators. Watch Goldman Sachs, Lehmann, Morgan Stanley and and others fight the disclosure repeal.
As to excess profits on all petro corporations, just how much do you think they make on a barrel of oil?
Real anger should be directed at the slugs in Congress who won't allow any drilling.
Wake up fQQlz

Jerseyville, IL

#9 May 29, 2008
No foolin'? Price manipulation,not this administration!
x-nutmegger

Phoenix, AZ

#10 May 29, 2008
too droll to troll wrote:
Before Enron folded they successfully saw to legislation that forbade disclosure of the speculators. Watch Goldman Sachs, Lehmann, Morgan Stanley and and others fight the disclosure repeal.
As to excess profits on all petro corporations, just how much do you think they make on a barrel of oil?
Real anger should be directed at the slugs in Congress who won't allow any drilling.
I've been talking to a Congressional staffer on this subject for a month. There is some debate on this as an investigation has been ongoing for awhile.
As soon as word leaked out the prices started down.
I'm recommending raising the margin on oil futures contracts but both NYMEX and ICE(London) must be involved. Raising just in NYMEX will drive the biz to London.
x-nutmegger

Phoenix, AZ

#11 May 29, 2008
Wake up fQQlz wrote:
No foolin'? Price manipulation,not this administration!
How about the Corn Ethanol Czar Dicky Durbin manipulating prices on ethnol imports. He tarrifed them.Plus subsidizing corn growers.
Sounds like manipulation to me.........how about you ?
Bigballs

Charlotte, NC

#12 May 29, 2008
Well the price per barell dropped $3.50 because people didn't buy like they thought they would for the holiday. Why is the pump price still the same or higher. I'm F-ing sick of it!
Mach II

Fellsmere, FL

#13 May 29, 2008
Mac-7 wrote:
Richard / FloridaMike,
It doesn't sound like the usual suspects - the oil companies - are under investigation.
It appears that oil market traders are the targets.
I said a long time ago that the "speculators" were driving the price of oil up. They literally can control the market on anything. Make them pay upfront if that's how they want to play. They are driving this country into the ground to get rich....Hang ‘em up by their toe nails.......

“You can see right through him!”

Since: Apr 08

Twin Oaks

#14 May 29, 2008
Doesn't anyone think it's strange that these people have been working this investigation for SIX MONTHS and have nothing to show for it? I want that expense account. Pay for six months without accomplishing anything. Chairman Mao industrialized China in less than 5 years. Can I get a witness?
x-nutmegger

Phoenix, AZ

#15 May 29, 2008
the real henry wrote:
Doesn't anyone think it's strange that these people have been working this investigation for SIX MONTHS and have nothing to show for it? I want that expense account. Pay for six months without accomplishing anything. Chairman Mao industrialized China in less than 5 years. Can I get a witness?
What led you to that conclusion ?
Maybe they thought it was time to go public and see which way the rats run.
You shouldn't go public until you know something.........whether one way or the other.
Remember we are dealing with some jurisdictions not in the U.S.
I know for a fact a big dealer in London is based in Atlanta Ga. But trades in the U.K. not NY.
Just An Observer

Oscoda, MI

#16 May 29, 2008
Possible??? Possible????!!!! How about definitely, absolutely, a good probability, a tremendous likeliness, but possible?????????? Feds, get with the program, this escalation has been happening for years! Dammit, can somebody there in Washington stand up and be a human being against these corrupted robots? One day you will have to meet up with God, and where will anybody in the Gov't be to save you? All corrupted, all bought off, all thinking about yourselves. Purge yourselves, please!

“losers nit pick on topix”

Since: Jul 07

Earth

#17 May 29, 2008
YA THINK?
Lance Winslow

Emeryville, CA

#18 May 29, 2008
Yes, wouldn't it be funny if, after Bush Bernanke and Paulson gave away nearly $400 BILLION to commercial banks, they used it to speculate and drive up oil prices to pad oil companies' profits.
Ha ha ha.
goon

Bethlehem, PA

#19 May 29, 2008
peak oil(at 85mbpd ) and demand greater than supply (87mbpd)is why you have high prices.

The oil speculation ads maybe 10 percent to the price.

Since: Sep 07

Arlington, VA

#20 May 29, 2008
x-nutmegger wrote:
<quoted text>
I've been talking to a Congressional staffer on this subject for a month. There is some debate on this as an investigation has been ongoing for awhile.
As soon as word leaked out the prices started down.
I'm recommending raising the margin on oil futures contracts but both NYMEX and ICE(London) must be involved. Raising just in NYMEX will drive the biz to London.
Better yet, just ban oil speculation worldwide.

Since: Sep 07

Arlington, VA

#21 May 29, 2008
goon wrote:
peak oil(at 85mbpd ) and demand greater than supply (87mbpd)is why you have high prices.
The oil speculation ads maybe 10 percent to the price.
BULLCRAP! We have had, since 1990, a 1% increase in the amount of gasoline usage in the whole WORLD. Remember the summer of .79$ gas, not too long ago?

The fact is that this is NOT, period and done with, over, finito, ARGUMENT FINISHED.... because of supply and demand!
Get a CLUE! This is all about price fixing and oil speculation.

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