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Originally Posted by Tex
The reasons behind oil prices are complex and legion. Democrats have selected what they believe is a politically viable bogeyman, since their demonization of the oil industry appears not to have caught on.
No doubt speculation has contributed to the problem, but their "solution"--clamping down--is a band-aid at best. It's smoke and mirrors. There is global concern that supply can keep up with demand, and as long as that's true, prices will float at a place where the market is comfortable, be it $140/barrel or whatever.
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there is a supply and demand issue. The supply of futures contracts.
GOP is really making the wrong move here.
What has gotten BETTER after ANYONE can buy futures contracts? That's what the GOP has to sell. Except they are arguing "we don't think it has made a difference." Well, if it hasn't made a difference, THEN THERE ISN'T MUCH DOWNSIDE TO ROLLING IT BACK!