From:
A. Sommers
Organization(s):
member, www.gasbuddy.com, helping motorists find lowest fuel prices and providing petroleum and automotive industry news and information.
Comment Text:
Uncontrolled speculation in oil futures causes prices to swing widely, and to rise in a manner not always connected with actual supply and demand. Markets are also overly susceptible to traders' emotions.
Short of an outright ban on speculation in oil futures, the CTFC should effect a large increase of the margin required to control a contract, in order to curb speculation in the market by traders not connected directly to the petroleum industry, and who buy and sell contracts with no intent of ever taking delivery of the underlying product.
