speculation price gauging battle on the floor of the house

[scandinaviany3]

http://www.c-span.org/watch/cs_cspan_wm.asp?Cat=TV&Code=CS

1st topic on oil prices, etc started...make sure before next months dark petrolium markets and speculation ...we need this done now to drop oil to 70 dollaras barrell.

Make sure this committee members on the energy committee dont have a fax, phone, email account that is not flooded...to clean up on oil futures speculation

[SLSteven]

We are all speculators. I filled up my car yesterday, speculating that I would need the gas more than I would need the FRNs.

[winston_blade]

We are all speculators. I filled up my car yesterday, speculating that I would need the gas more than I would need the FRNs.

QFT.

Speculation is actually good in the fact that it helps keep the supply and demand at an equilibrium.

[Chase]

Here's an interesting document on this subject:

http://www.instituteforenergyresearch.org/wp-content/uploads/2008/06/oil_speculators.pdf

Keep in mind that this institute might very well be funded by energy companies, so as with anything else, read with an eye towards bias. Nonetheless, I think the argument against oil speculators causing record oil prices is solid. Where are the huge repositories of hoarded crude oil? Why does global supply just keep up with global commercial demand?