|
|
|
60 percent of today's oil price is pure speculation! An analysist on CNBC (w/e 6/6/08) said that 95% of oil trades was pure speculation and only 5% were actual buyers of oil. Furthermore, oil contracts were traded up to 30 times before the actual end user got the contract and the oil!
NO oil shortage!! The U.S. has enough known reserves for 200 years! Read this report from the USGS. Canada's oil reserves 2nd only to Saudi Arabia Huge Oil Reserve Found In Gulf Of Mexico U.S. oil shale has potential of 1,100bbl, report says It's time Congress and the SEC put stricter regulations on (NYMEX) oil trading! Please write to your Senator and tell them to put pressure on this outrageous speculative trading. Additionally you can file a complaint to the SEC about oil trading HERE
|
