Thread: News Stories
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Old 2012-02-21, 18:37   Link #19758
Vexx
Obey the Darkly Cute ...
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Join Date: Dec 2005
Location: On the whole, I'd rather be in Kyoto ...
Age: 61
As to the oil/gas prices fueled by risky futures speculators - here's a guy who's trying to do something to put legal brakes on it with a large ban-hammer: Heatin oil dealer Sean Cota

http://www.cotaoil.com/news.html
Quote:
April 1, 2011
Last week, we reported on Vermont Senator Patrick Leahy's endorsement of heating oil dealer Sean Cota for appointment to the Commodity Futures Trading Commission (CFTC) this summer. Shortly thereafter, HeatingOil.com contacted Cota, who granted us his final interview before the president announces his official choice. In the interview, Cota discusses how his experiences as a businessman in the heating oil industry and a player in commodity markets led him to realize that the markets heating oil dealers throughout the country use to hedge their risk are in dire need of reform. He also gives a basic idea of the reforms he favors that would help give heating oil dealers a fighting chance against inflated prices and extreme price volatility. Of course, Obama's appointment of the next CFTC commissioner is months away, but the fact that a heating oil professional is even being considered is exciting news, and if he were appointed, it would be a huge boon to the industry.
Quote:
Washington, June 15 – Senators Bernie Sanders (I-Vt.), Bill Nelson (D-Fla.), Richard Blumenthal (D-Conn.), Jeff Merkley (D-Ore.), Al Franken (D-Minn.), and Sheldon Whitehouse (D-R.I.) today introduced legislation, to make federal commodity regulators halt excessive oil speculation that has driven up gasoline prices.
Naturally, no Republican senators anywhere to be seen... I suppose the GOP is doing their best to pretend it has nothing to do with their master's reckless behaviors.
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