Saturday, April 2, 2011

Oil Betting

http://online.wsj.com/article/SB10001424052748703712504576236372100306088.html Crude-oil futures hit fresh 2½-year highs, as traders bet that an acceleration in China's manufacturing sector will tighten the global oil market at a time when supply from Libya is disrupted. This is the line needs to be made illegal. They should hold an emergency session of congress over the weekend and remove all speculation from the oil market. Next week anyone "betting" on oil goes to jail. Handcuffs and and orange jumpsuit. No betting, speculating, or otherwise manipulating the oil market. Period! Oil should be selling at $24.00 a barrel. Anything higher should spark a federal investigation.

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