In response to:

Limits on Oil Trading Won’t Change the Price

sunfisher76 Wrote: May 18, 2012 2:58 PM
It's certainly your right to disagree with Jeff... You just need to understand that disagreeing with him makes you wrong. Road taxes have a have a greater day-in day-out price impact than do speculators. Read this next sentence, underline it twice and then read it again. Blaming the markets for the price is exactly the same as blaming the thermometer for the temperature.
Stan Marsh's Grampa Wrote: May 18, 2012 4:47 PM
I am not blaming the market itself, just the players that aren't there to buy anything. Speculators amplify demand artificially driving up prices. They also amplify spikes in price on bad news. The market should be a free one, but limited to people that are there to actually buy gas and oil.

Legislators have ramped up efforts to curb oil trading. They think that somehow, if no one is able to trade, the price will go down. Unfortunately, many at the CFTC agree with them. It’s like the see no evil, hear no evil, say no evil monkeys.

Here is what they said according to today’s Wall Street Journal.

“We are deeply concerned that the ongoing work to develop regulations implementing the Dodd-Frank derivatives provisions leaves our energy and oil markets operating without sufficient protections against excessive speculation or its effects,” Sens. Dianne Feinstein (D., Calif.), Olympia Snow (R., Maine),...