Comment Text:
What defines "excess speculation"? To me the users/suppliers reflect true supply/demand. So for sure its "excess" when speculators outnumber users/suppliers, as is the current case I believe. However, I'm led to believe that "some" speculation helps with liquidity.My "vote" is for the CFTC to obey the spirit and intent of the Dodd-Frank Law and set rules on "position limits" to curb excess speculation... especially in oil...where for my taste users/suppliers would outnumber speculators by at least 2:1.
