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Funds, speculators pushing up energy prices - U.S. regulator

Reuters -- Hedge funds and other speculators are pushing up energy prices and hurting consumers, a top U.S. commodity regulator said, as oil and gasoline prices have surged to recent highs.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the markets watchdog would push on to impose maximum limits on speculative positions that investors can hold.

"There is plenty of reputable and reliable evidence documenting what many of us simply know: that excessive speculation can contort markets," Chilton said in the text of a speech due for delivery on Wednesday.

A Reuters analysis this week found that hedge funds have almost doubled their bets on higher oil prices since Dec. 11, taking their total speculative position close to the highest level ever reported...

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Submitted Feb 13, 2013 By: EZExit

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honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 22, 2013 5:54:16 AM Ignore honda0105 Report Abuse Kar: knowing and getting it done are worlds apart in the Beltway.
KAR120CSII Champion Author Oregon Posts:3,172 Points:620,345 Joined:Apr 2010	Message Posted: Feb 21, 2013 8:45:45 PM Ignore KAR120CSII Report Abuse Peter DeFazio introduced HR 2003 -- a 0.01% tax on speculation -- at least one Congressman within the Beltway knows what should be done.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 20, 2013 5:53:39 AM Ignore honda0105 Report Abuse kar, that would be good. Been said here many times. But that's not what they do inside the Beltway.
KAR120CSII Champion Author Oregon Posts:3,172 Points:620,345 Joined:Apr 2010	Message Posted: Feb 20, 2013 2:03:49 AM Ignore KAR120CSII Report Abuse Tax them a percentage of each trade and make them take delivery of the oil --
tomok Champion Author Portland Posts:32,987 Points:2,344,535 Joined:Aug 2006	Message Posted: Feb 19, 2013 5:39:39 PM Ignore tomok Report Abuse Funds, speculators pushing up energy prices with banks AND, don't forget Big Oil and Big Gas selling fuel and natural gas on the world market for higher prices! The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - $3, $3.50/gallon or *$4.00 is Not the new low! More Refineries are Not the answer, Stop exporting that fuel is! Take care of the domestic fuel market first and above all else! Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 19, 2013 5:50:34 AM Ignore honda0105 Report Abuse any good excuse to drive prices up. In the last month, we went from 3.37 to 3.80+. No real reason.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 18, 2013 12:02:01 AM Ignore honda0105 Report Abuse rajah: easier said than done.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 18, 2013 12:01:46 AM Ignore honda0105 Report Abuse indeed turtle, we have no control over. Esp. since much of that specutraitor action is done by many big Pig Banks, some of the same we bailed out as "too big to fail" in the final days of GWB's administration.
USMCturtlehead Champion Author Lexington Posts:1,984 Points:102,725 Joined:Feb 2013	Message Posted: Feb 17, 2013 9:18:58 AM Ignore USMCturtlehead Report Abuse It is what it is. Speculation which we have no control over.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 17, 2013 7:47:53 AM Ignore honda0105 Report Abuse thanks to Dubb-ya, specutraitors have free rei(g)n to rob the consumer blindly and bring down the economy at the same time.
Rajah Champion Author Illinois Posts:7,565 Points:2,305,815 Joined:Jul 2005	Message Posted: Feb 14, 2013 10:50:24 PM Ignore Rajah Report Abuse Get the speculators out of it. Make it such that buying oil means taking actual physical delivery of it with no middle men. From the well to the refinery without the opportunity to jack up the price.
Taxrefugee Champion Author Arizona Posts:1,397 Points:386,020 Joined:Jan 2012	Message Posted: Feb 14, 2013 4:55:03 PM Ignore Taxrefugee Report Abuse Same old c**p
dylan126 Champion Author Cleveland Posts:4,425 Points:594,895 Joined:Sep 2011	Message Posted: Feb 14, 2013 3:38:23 PM Ignore dylan126 Report Abuse greedy creeps
Tommyguns45 Sophomore Author Illinois Posts:214 Points:132,045 Joined:Feb 2012	Message Posted: Feb 14, 2013 9:13:50 AM Ignore Tommyguns45 Report Abuse Hope the speculators has to put 100% down not 10 cents on the dollar like the last Depression.
GatorGuy Champion Author Columbia Posts:2,228 Points:1,206,495 Joined:Jan 2009	Message Posted: Feb 14, 2013 9:05:12 AM Ignore GatorGuy Report Abuse Great, thanks speculators. Who are these people anyway?
Wolfman_TJack Champion Author Twin Cities Posts:2,504 Points:459,315 Joined:Feb 2012	Message Posted: Feb 14, 2013 12:33:24 AM Ignore Wolfman_TJack Report Abuse Speculation = Consumer Abuse
crreed1 Champion Author West Virginia Posts:1,980 Points:2,525,360 Joined:May 2005	Message Posted: Feb 14, 2013 12:26:48 AM Ignore crreed1 Report Abuse this is old news
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Feb 14, 2013 12:15:47 AM Ignore tedjm1 Report Abuse Should put a stop to speculators. Know they make money for their company ans themselves, but they hurt everyone else. They make very big bucks and don't care.
FortVancouver01 Champion Author Washington Posts:1,165 Points:287,070 Joined:Jul 2012	Message Posted: Feb 14, 2013 12:14:16 AM Ignore FortVancouver01 Report Abuse If the leadership in the House of Representatives would put back the controls they eliminated on the speculators and hedge funds about ten years, maybe this would not be such a big problem.
boatfloyd Champion Author Jacksonville Posts:1,713 Points:387,000 Joined:Mar 2012	Message Posted: Feb 14, 2013 12:11:04 AM Ignore boatfloyd Report Abuse They know how to make the money.
gaspricewatchKS All-Star Author Kansas Posts:748 Points:279,090 Joined:Nov 2008	Message Posted: Feb 14, 2013 12:11:03 AM Ignore gaspricewatchKS Report Abuse this is not news
rahcat Champion Author Grand Rapids Posts:2,463 Points:661,975 Joined:Jan 2010	Message Posted: Feb 14, 2013 12:10:54 AM Ignore rahcat Report Abuse How about some public hangings to bring this to a halt.
madison8359 Champion Author Cleveland Posts:9,014 Points:1,592,320 Joined:Apr 2008	Message Posted: Feb 14, 2013 12:06:13 AM Ignore madison8359 Report Abuse No surprise here.
Rageagainsttm Champion Author Tampa Posts:8,298 Points:1,902,005 Joined:Jul 2007	Message Posted: Feb 14, 2013 12:05:37 AM Ignore Rageagainsttm Report Abuse Very true.
mlmeng Champion Author Michigan Posts:1,630 Points:590,085 Joined:Mar 2011	Message Posted: Feb 14, 2013 12:05:18 AM Ignore mlmeng Report Abuse When government intervention is not needed, government gets involved. However, when government intervention would actually help, they are no where to be found.
stratlinetime Champion Author Kalamazoo Posts:2,276 Points:562,860 Joined:Feb 2011	Message Posted: Feb 14, 2013 12:05:00 AM Ignore stratlinetime Report Abuse Welcome to the economic rollercoaster
PrinceLH Champion Author Ontario Posts:2,687 Points:537,070 Joined:Jun 2011	Message Posted: Feb 14, 2013 12:04:19 AM Ignore PrinceLH Report Abuse They'll get their money and the suckers will be left holding the bag, when Oil futures drop.
JasTheAce All-Star Author Raleigh Posts:965 Points:171,360 Joined:Nov 2012	Message Posted: Feb 14, 2013 12:02:58 AM Ignore JasTheAce Report Abuse smh
bvrbill Champion Author Eugene Posts:3,207 Points:517,550 Joined:Jul 2011	Message Posted: Feb 14, 2013 12:02:40 AM Ignore bvrbill Report Abuse End speculation.
arb0526 Champion Author Greensboro Posts:1,971 Points:409,645 Joined:Mar 2011	Message Posted: Feb 14, 2013 12:02:07 AM Ignore arb0526 Report Abuse ok
s6sputnik Champion Author Austin Posts:6,219 Points:1,307,195 Joined:Jun 2007	Message Posted: Feb 14, 2013 12:01:40 AM Ignore s6sputnik Report Abuse It's way too high!
Alfied Champion Author Riverside Posts:7,935 Points:1,755,285 Joined:Jun 2001	Message Posted: Feb 13, 2013 11:59:52 PM Ignore Alfied Report Abuse Up and down, up and down, makes the world go around.
NAVYHM All-Star Author Cleveland Posts:761 Points:1,384,955 Joined:May 2008	Message Posted: Feb 13, 2013 11:59:05 PM Ignore NAVYHM Report Abuse REALLY...
clermont40miles Champion Author Cincinnati Posts:10,562 Points:1,770,920 Joined:Apr 2008	Message Posted: Feb 13, 2013 11:58:57 PM Ignore clermont40miles Report Abuse Speculators run amok. No change.
JamesCalvin Champion Author Lancaster Posts:3,181 Points:518,480 Joined:Nov 2011	Message Posted: Feb 13, 2013 11:58:46 PM Ignore JamesCalvin Report Abuse Of course!
grt197 All-Star Author Illinois Posts:573 Points:125,585 Joined:Jan 2013	Message Posted: Feb 13, 2013 11:58:37 PM Ignore grt197 Report Abuse yes yes
agr964 All-Star Author Fresno Posts:614 Points:70,780 Joined:Aug 2008	Message Posted: Feb 13, 2013 11:55:16 PM Ignore agr964 Report Abuse This has been known for years, and regulators are just now figuring it out? Did they finally get back from vacation? Kind of late now anyway. Gas is already $4 here. [Edited by: agr964 at 2/13/2013 11:56:47 PM EST]
mcmonsta Champion Author Honolulu Posts:3,222 Points:817,570 Joined:Sep 2009	Message Posted: Feb 13, 2013 11:54:49 PM Ignore mcmonsta Report Abuse and who is the control and enforcement body? and what slap on the wrist will violators get?
medic319 All-Star Author Akron Posts:723 Points:245,285 Joined:Mar 2012	Message Posted: Feb 13, 2013 11:48:48 PM Ignore medic319 Report Abuse I can't wait to see where this goes.
hawkman1950 Champion Author Michigan Posts:2,620 Points:539,580 Joined:Aug 2010	Message Posted: Feb 13, 2013 11:48:21 PM Ignore hawkman1950 Report Abuse Take everyone of these low life fockers outside and put a bullet in them.
DustyHorse Champion Author Virginia Posts:6,079 Points:1,390,785 Joined:Oct 2008	Message Posted: Feb 13, 2013 11:46:54 PM Ignore DustyHorse Report Abuse Exactly. I hope the can put in place laws to curb the rampant speculation. It is putting a huge drag on our economy. Our government seems to like the idea of high fuel prices. The are only concerned about renewable energy.
gasmack Champion Author Ventura Posts:1,705 Points:667,300 Joined:Feb 2011	Message Posted: Feb 13, 2013 11:44:13 PM Ignore gasmack Report Abuse Hope he wins the appeal.
furiousfowl Champion Author Riverside Posts:16,850 Points:2,748,205 Joined:May 2005	Message Posted: Feb 13, 2013 11:32:33 PM Ignore furiousfowl Report Abuse nothing new there
TheSnowstorm Champion Author Montreal Posts:8,619 Points:1,913,030 Joined:June 2005	Message Posted: Feb 13, 2013 11:29:43 PM Ignore TheSnowstorm Report Abuse Make the speculators take delivery of the product that they are buying. This will slow down if not altogether eliminate the wild price runs that they initiate.
D4444J Champion Author Albuquerque Posts:1,834 Points:587,905 Joined:Aug 2011	Message Posted: Feb 13, 2013 11:29:37 PM Ignore D4444J Report Abuse Speculators are nutty.
drz614 Champion Author Harrisburg Posts:2,294 Points:596,645 Joined:Aug 2011	Message Posted: Feb 13, 2013 11:29:01 PM Ignore drz614 Report Abuse in addition, couldn't possibly be because of lack of refinery capacity
mstearno Champion Author Dayton Posts:8,061 Points:1,730,260 Joined:Jan 2008	Message Posted: Feb 13, 2013 11:26:07 PM Ignore mstearno Report Abuse i'm tired of hearing about speculators it's dumb
goldrose1 Champion Author Cleveland Posts:10,931 Points:1,924,280 Joined:Feb 2005	Message Posted: Feb 13, 2013 11:23:56 PM Ignore goldrose1 Report Abuse Where is news in this?
wayoung56 Champion Author Alabama Posts:2,795 Points:817,360 Joined:Oct 2006	Message Posted: Feb 13, 2013 11:20:55 PM Ignore wayoung56 Report Abuse I think it's time to lynch some speculators and hedge fund managers...
Zeke33 Champion Author New Hampshire Posts:5,573 Points:1,615,085 Joined:Sep 2005	Message Posted: Feb 13, 2013 11:20:52 PM Ignore Zeke33 Report Abuse DUH!