Congress Is OPEC's Staunchest Ally
By Walter E. Williams
CNSNews.com
Despite Congress’ periodic hauling of weak-kneed oil executives before their committees to charge them with collusion and price-gouging, subsequent federal investigations turn up no evidence to support the charges.
Right now oil company executives are getting a bit of a respite as Congress has turned its attention to crude oil speculators, blaming them for high oil prices and calling for tighter control over commodity futures trading.
Let’s look at the futures market and for simplicity use corn futures discussed in my May 28th column titled “Futures Market.” While corn is different from oil, both obey the laws of supply and demand, just as humans are very different from bricks but both obey the laws of gravity.
CNSNews.com
Despite Congress’ periodic hauling of weak-kneed oil executives before their committees to charge them with collusion and price-gouging, subsequent federal investigations turn up no evidence to support the charges.
Right now oil company executives are getting a bit of a respite as Congress has turned its attention to crude oil speculators, blaming them for high oil prices and calling for tighter control over commodity futures trading.
Let’s look at the futures market and for simplicity use corn futures discussed in my May 28th column titled “Futures Market.” While corn is different from oil, both obey the laws of supply and demand, just as humans are very different from bricks but both obey the laws of gravity.
posted by Andy W. Rogers | 9:53 PM
0 Comments:
Post a Comment
<< Home