bernie52

60 Minutes: On Speculators and Commodities

From the several comments that I have read about last Sunday's CBS report on the commodity market price of oil, I would say that the report was very effective. Eight minutes of reporting is just time to open the can of worms. If there was some way to eliminate speculation from the price paid for oil, what would that be? COST plus 10 percent?
The major inference of the report that if you could only get all the money with no intention to use oil in some value added process to just get out of the game that is a subject for economics 312 which we will never see on network TV, cable TV, even CSPAN. A version might be available on Cal U public TV.