Is the price of oil ‘artificially’ high?

December 11th, 2007 | Category: Politics, International Markets, Oil, China, India, Canada

Discussion in financial and public policy circles appears to building regarding increased monitoring of energy markets, as well as, at minimum, inquiries into whether oil prices have been manipulated.

One group, closetheenronloophole.com - - a coalition of oil dealers (the humans who deliver heating oil in trucks, etc.) and other groups - - argues that undoubtful unregulated energy trading platforms supply an environment for what the group calls “excessive speculation and energy price manipulation.”

Capitol Hill

In Washington, several lawmakers have requested inquiries of the energy markets. Among

them are U.S. Senators Maria Cantwell (D-Washingotn), Dianne Feinstein (D-California), and Ron Wyden (D-Oregon), who sent a letter to the chairmen of the Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC) giving them 45 days “to develop a plan to deliver effective oversight for energy markets and implement anti- manipulation provisions.”

Continue reading Is the price of oil ‘artificially’ high?

Original post by Joseph Lazzaro

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