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GasBuddy News Article

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Funds, speculators pushing up energy prices - U.S. regulator

Reuters -- Hedge funds and other speculators are pushing up energy prices and hurting consumers, a top U.S. commodity regulator said, as oil and gasoline prices have surged to recent highs.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the markets watchdog would push on to impose maximum limits on speculative positions that investors can hold.

"There is plenty of reputable and reliable evidence documenting what many of us simply know: that excessive speculation can contort markets," Chilton said in the text of a speech due for delivery on Wednesday.

A Reuters analysis this week found that hedge funds have almost doubled their bets on higher oil prices since Dec. 11, taking their total speculative position close to the highest level ever reported...


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Submitted Feb 13, 2013 By: EZExit
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Funds, speculators pushing up energy prices - U.S. regulator Back to Topics
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 22, 2013 5:54:16 AM

Kar: knowing and getting it done are worlds apart in the Beltway.
KAR120CSII
Champion Author Oregon

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Message Posted: Feb 21, 2013 8:45:45 PM

Peter DeFazio introduced HR 2003 -- a 0.01% tax on speculation -- at least one Congressman within the Beltway knows what should be done.
honda0105
Champion Author Tallahassee

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Message Posted: Feb 20, 2013 5:53:39 AM

kar, that would be good. Been said here many times. But that's not what they do inside the Beltway.
KAR120CSII
Champion Author Oregon

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Message Posted: Feb 20, 2013 2:03:49 AM

Tax them a percentage of each trade and make them take delivery of the oil --
tomok
Champion Author Portland

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Message Posted: Feb 19, 2013 5:39:39 PM

Funds, speculators pushing up energy prices with banks AND, don't forget Big Oil and Big Gas selling fuel and natural gas on the world market for higher prices!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
More Refineries are Not the answer, Stop exporting that fuel is!
Take care of the domestic fuel market first and above all else!
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
honda0105
Champion Author Tallahassee

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Message Posted: Feb 19, 2013 5:50:34 AM

any good excuse to drive prices up. In the last month, we went from 3.37 to 3.80+. No real reason.
honda0105
Champion Author Tallahassee

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Message Posted: Feb 18, 2013 12:02:01 AM

rajah: easier said than done.
honda0105
Champion Author Tallahassee

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Message Posted: Feb 18, 2013 12:01:46 AM

indeed turtle, we have no control over. Esp. since much of that specutraitor action is done by many big Pig Banks, some of the same we bailed out as "too big to fail" in the final days of GWB's administration.
USMCturtlehead
Champion Author Lexington

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Message Posted: Feb 17, 2013 9:18:58 AM

It is what it is. Speculation which we have no control over.
honda0105
Champion Author Tallahassee

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Message Posted: Feb 17, 2013 7:47:53 AM

thanks to Dubb-ya, specutraitors have free rei(g)n to rob the consumer blindly and bring down the economy at the same time.
Rajah
Champion Author Illinois

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Message Posted: Feb 14, 2013 10:50:24 PM

Get the speculators out of it. Make it such that buying oil means taking actual physical delivery of it with no middle men. From the well to the refinery without the opportunity to jack up the price.
Taxrefugee
Champion Author Arizona

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Message Posted: Feb 14, 2013 4:55:03 PM

Same old c**p
dylan126
Champion Author Cleveland

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Message Posted: Feb 14, 2013 3:38:23 PM

greedy creeps
Tommyguns45
Champion Author Illinois

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Message Posted: Feb 14, 2013 9:13:50 AM

Hope the speculators has to put 100% down not 10 cents on the dollar like the last Depression.
GatorGuy
Champion Author Columbia

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Message Posted: Feb 14, 2013 9:05:12 AM

Great, thanks speculators. Who are these people anyway?
Wolfman_TJack
Champion Author Twin Cities

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Message Posted: Feb 14, 2013 12:33:24 AM

Speculation = Consumer Abuse
crreed1
Champion Author West Virginia

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Message Posted: Feb 14, 2013 12:26:48 AM

this is old news
tedjm1
Champion Author New York

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Message Posted: Feb 14, 2013 12:15:47 AM

Should put a stop to speculators. Know they make money for their company ans themselves, but they hurt everyone else. They make very big bucks and don't care.
FortVancouver01
Champion Author Washington

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Message Posted: Feb 14, 2013 12:14:16 AM

If the leadership in the House of Representatives would put back the controls they eliminated on the speculators and hedge funds about ten years, maybe this would not be such a big problem.
boatfloyd
Champion Author Jacksonville

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Message Posted: Feb 14, 2013 12:11:04 AM

They know how to make the money.
gaspricewatchKS
All-Star Author Kansas

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Message Posted: Feb 14, 2013 12:11:03 AM

this is not news
rahcat
Champion Author Grand Rapids

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Message Posted: Feb 14, 2013 12:10:54 AM

How about some public hangings to bring this to a halt.
madison8359
Champion Author Cleveland

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Message Posted: Feb 14, 2013 12:06:13 AM

No surprise here.
Rageagainsttm
Champion Author Tampa

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Message Posted: Feb 14, 2013 12:05:37 AM

Very true.
mlmeng
Champion Author Michigan

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Message Posted: Feb 14, 2013 12:05:18 AM

When government intervention is not needed, government gets involved. However, when government intervention would actually help, they are no where to be found.
stratlinetime
Champion Author Kalamazoo

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Message Posted: Feb 14, 2013 12:05:00 AM

Welcome to the economic rollercoaster
PrinceLH
Champion Author Ontario

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Message Posted: Feb 14, 2013 12:04:19 AM

They'll get their money and the suckers will be left holding the bag, when Oil futures drop.
JasTheAce
Champion Author Raleigh

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Message Posted: Feb 14, 2013 12:02:58 AM

smh
bvrbill
Champion Author Eugene

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Message Posted: Feb 14, 2013 12:02:40 AM

End speculation.
arb0526
Champion Author Greensboro

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Message Posted: Feb 14, 2013 12:02:07 AM

ok
s6sputnik
Champion Author Austin

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Message Posted: Feb 14, 2013 12:01:40 AM

It's way too high!
Alfied
Champion Author Riverside

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Message Posted: Feb 13, 2013 11:59:52 PM

Up and down, up and down, makes the world go around.
NAVYHM
All-Star Author Cleveland

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Message Posted: Feb 13, 2013 11:59:05 PM

REALLY...
clermont40miles
Champion Author Cincinnati

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Message Posted: Feb 13, 2013 11:58:57 PM

Speculators run amok. No change.
JamesCalvin
Champion Author Lancaster

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Message Posted: Feb 13, 2013 11:58:46 PM

Of course!
grt197
Champion Author Illinois

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Message Posted: Feb 13, 2013 11:58:37 PM

yes yes
agr964
All-Star Author Fresno

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Message Posted: Feb 13, 2013 11:55:16 PM

This has been known for years, and regulators are just now figuring it out? Did they finally get back from vacation?

Kind of late now anyway. Gas is already $4 here.

[Edited by: agr964 at 2/13/2013 11:56:47 PM EST]
mcmonsta
Champion Author Honolulu

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Message Posted: Feb 13, 2013 11:54:49 PM

and who is the control and enforcement body? and what slap on the wrist will violators get?
medic319
All-Star Author Akron

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Message Posted: Feb 13, 2013 11:48:48 PM

I can't wait to see where this goes.
hawkman1950
Champion Author Michigan

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Message Posted: Feb 13, 2013 11:48:21 PM

Take everyone of these low life fockers outside and put a bullet in them.
DustyHorse
Champion Author Virginia

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Message Posted: Feb 13, 2013 11:46:54 PM

Exactly. I hope the can put in place laws to curb the rampant speculation. It is putting a huge drag on our economy. Our government seems to like the idea of high fuel prices. The are only concerned about renewable energy.
gasmack
Champion Author Ventura

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Message Posted: Feb 13, 2013 11:44:13 PM

Hope he wins the appeal.
furiousfowl
Champion Author Riverside

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Message Posted: Feb 13, 2013 11:32:33 PM

nothing new there
TheSnowstorm
Champion Author Montreal

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Message Posted: Feb 13, 2013 11:29:43 PM

Make the speculators take delivery of the product that they are buying. This will slow down if not altogether eliminate the wild price runs that they initiate.
D4444J
Champion Author Albuquerque

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Message Posted: Feb 13, 2013 11:29:37 PM

Speculators are nutty.
drz614
Champion Author Harrisburg

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Message Posted: Feb 13, 2013 11:29:01 PM

in addition, couldn't possibly be because of lack of refinery capacity
mstearno
Champion Author Dayton

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Message Posted: Feb 13, 2013 11:26:07 PM

i'm tired of hearing about speculators
it's dumb
goldrose1
Champion Author Cleveland

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Message Posted: Feb 13, 2013 11:23:56 PM

Where is news in this?
wayoung56
Champion Author Alabama

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Message Posted: Feb 13, 2013 11:20:55 PM

I think it's time to lynch some speculators and hedge fund managers...
Zeke33
Champion Author New Hampshire

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Message Posted: Feb 13, 2013 11:20:52 PM

DUH!
vibdata
Champion Author Massachusetts

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Message Posted: Feb 13, 2013 11:18:50 PM

There was a great article from some paper in the midwest about this illegal activity sanctioned now by YOUR GUV. BIG GUV.
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