mike00501950

U.S. Oil Production Today Same as in 1948

There's enough blame to spread around. Do speculators run the price of oil up? What a stupid question! Of course they do and anyone who feels to the contrary is kidding himself. This entire business adds little if nothing to the efficiency of the markets. Look at the stock market and how the stocks go up when oil prices fall and vice versa. Which would the most want? A healthy stock market or fat oil companies who are producing at 1948 levels!!? It should be out-lawed in that only those that actually take possesion of the oil are allowed to speculate. While they are at it, outlaw this short-selling and naked short-selling business. It's ridiculous and the fact that the practice even exists is a scandalous blemish on our financial system. The more I have become aware of these practices the less faith I have in the stock market. I'm sure I'm not alone.