Posted by
Contrarian Guitarist on Wednesday, September 10, 2008 4:19:22 PM
I made
this point here,
here and
here. Now I could make an argument for greater regulation on oil speculation and commodity trading in general. I've shied away from investing in commodities myself. Partially for fear I'll forget I bought 2,000 bushels of wheat and it'll show up at my door. "Here's the wheat you ordered sir. Where do you want it?" Kind of thought that end users should be the only ones buying oil, etc. That could be legislated. One problem, the Law of Unintended Consequences. If the US should outlaw speculative trading of oil would other countries? Of course not. Control would escape US hands, as would trading revenue and jobs.