Comment Text:
The excessive speculation over the past 10 years has not only slowed the economic growth rate, but held back the lower and middle class of this country. Common sense would say that people buying positions in commodities that will not take physical delivery or hedge should be limited. The gentleman on your site points it out quit well. The person reading this should understand these markets better than the man off the street and advocate for any regulation or bill that curbs the speculation. Why should oil be at current levels when utilization in the US is way down? Why are we using 2003 gas levels but the price is over twice as much? Because someone sneezes in Iran, therefore allowing a speculator @ JP Morgan to push up the prices further. These markets are not based on supply and demand anymore, which is a shame. If you do nothing to stop this, you are not doing your job. You will continue to hurt the middleclass, have more money leave the US for the middle east, but I guess the commodity exchanges will make record profits. Please curb/stop speculation in oil markets. The most frustrating part of this is that once you understand the problem, it can be solved rather quickly. Traders will identify if they are hedging, taking physical delivery, or speculating. If speculating, your position is limited. The ETFs that have been created by the marketplace to track the increase in the price of oil need to be limited. Very simple. Please do the right thing. If you look the other way, or say "well it is speculation driven", you are either don't understand the numbers or are being dishonest with yourself.
