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Up Topic Chit-Chat & Non-Welding Discussion / Off-Topic Bar and Grill / Oil Market oversight
- - By Tommyjoking (****) Date 04-17-2012 15:51
Ok the plan is to spend an estimated 52 Mil to watchdog oil speculation and trading energy futures.  I am not sure what to think on this.   I do remember when Merrill Lynch was holding more oil futures then Exxon....there was a large spike in fuel prices during that time.   I dunno but the SEC failed miserably watching over mortgage trading and investments.
Parent - - By Cumminsguy71 (*****) Date 04-19-2012 19:32
It's more government jobs, benefits for the new hires at least.....they won't actually sell a product, a service, or help make money in any form and most likely will not get anything done or give us any relief at the pumps. Several months before elections and I see this as a move to make it look like somebody is trying(extreme sarcasm in my voice) to get something done. A day late and a dollar short in my opinion.

How are they going to watch speculators? One important guy wakes up one morning and decides that because the Iranian dictator farted last night that we now have MORE unrest in the middle east due to his experimentation with chemical warfare. Ok, a bit on the extreme side but in my world and from my view all it takes is a guy spilling a 55 gallon drum of oil on the dock in the sandbox somewhere and the world market goes loopy.

Hows the Hobart doing? Figure anything out?
Parent - By Tommyjoking (****) Date 04-20-2012 05:49
put some oil thru it, disconnected the ignition and turned it over.  Only pump to be found was in Dallas...won't be able to do much of anything till it gets here.  Got my fingers crossed.
Up Topic Chit-Chat & Non-Welding Discussion / Off-Topic Bar and Grill / Oil Market oversight

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