Originally Posted by haha
Soros says speculators contribute to oil 'bubble': Financial News - Yahoo! Finance
Overall I prefer light-handed regulation but the oil markets are too important to be left to bubble building devices. A lot of trouble might have been avoided if mortgage lending had been similarly regulated. Commodity regulation is always more popular with congress than financial regulation; bankers have more friends on the Potomac than commodity and oil guys.
Congressional interest is building. Something will likely be done. If it coincides with a clear US economic slowdown it could give a real drop in crude quotes at least for a time. Prices are already off a little over $10/bbl.
Oil "investors" should take notice.
Correct here. It looks as though the run up in prices that have put gasoline into the 4+ dollar range and with Hurricane season just beginning well the economy may not run off the rails but with large vehicle sales dead in the water, people driving less, and starting to say wait a second, screw the oil companies and producers we are gonna find a way to not use oil, well many who want the status quo are well starting to sweat.
We have been using 25% less gasoline since the prices have jumped, we always had a small car but we used to trade them in every 3 or 4 years. well we are now keeping them 10 years. I rode the bike yesterday again, heck I even hitched a ride!!