Comment Text:
First, who are the Speculators? They are Hedge Funds and bailed out Wall St 'Banks'. The same Hedge Funds/Banks who give the vast, if not all, of their campaign 'contributions', ie bribes, to the Democrat Party.
The way to solve the problem? Too easy: Make the Speculators take physical delivery of each and every barrel. Make them pay to store it. Make them pay to move it around the world to the refineries. In short, if they 'own' it, make them own it. Real World Oil would drop to $50 or less in a heartbeat. Currently, the world is awash in oil.
The least of the problem is so-called 'Big Oil'. Check their profit margins and compare to other industrial/consumer sectors. They at least keep oil flowing in spite of our feverish Government. They would be drilling here far more if not for the colossal idiocy of current US policy.
As far as gasoline prices are concerned, institute price fixing probes of local outlets. One outfit raises, the outfit down the road does so within minutes. They call each other; I've heard the conversations personally. I would also add that the gasoline currently being sold was refined months and months ago when oil was less costly.
Since the Commission is in effect an arm of the current Democrat apparatus and their connected fellow travelers, I don't expect any real action other than a lot of the usual and predictable double-speak.
