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OIL PRICE TRADERS TO BLAME!

               Last year, when oil prices were at about $140 per barrel, various conspiracy theories were floated about the reasons for the surge. The media outlets  then interviewed tons of annaylists who argued that the price spike stemmed simply from the forces of supply and demand. Even Rick Santeli from CNBC argued against the speculation therory. The truth has always been that hedge funds were all on the same side of the market running the price up for their own profits. After high gas prices evaporated the nations "stimulus checks" given out by the Bush administration, there was enough pressure to launch an investigation, which they are just now telling of the outcome. You may rememer immediately after the investigations the oil market then zoomed down to it's real fundamental price of $34 a barrel. At the time if you were into commodity trading you could of shorted the market from 140 to 34, 106k per contract!

    In any case The CFTC is now admitting the power that managed money brings to the market and affecting the economy.

    This is why financial channels have no credibility, and the reason people who watch them loose money.