The Obama administration proposed new measures Tuesday to
limit speculation in the oil markets, seeking to draw a contrast with
Republicans who have been calling for more domestic drilling during a time of
near record gasoline prices, CNN reports.
The new proposals require oil traders to put up more of
their own money for transactions, ask for more money for market enforcement and
monitoring activities, and call for higher penalties for market manipulation.
"None of these will bring gas prices down
overnight," Obama said at a White House press. "But they will prevent
market manipulation, and help protect consumers."
The impact that speculation, or investment money, is having
on oil prices is a subject of much debate.
Many argue that investment money, especially index fund money, is
largely to blame for the spike in oil prices….
Wait,wait...there's more at http://money.cnn.com/2012/04/17/markets/obama-oil-speculators/index.htm
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