Should the U.S.A. take OIL off the futures market?

Question

http://money.cnn.com/2008/06/17/news/economy/oil_trading/?postversion=2008061714

Answer 1

Yes I agree that it should be off the futures market. Then they cant shaft us

Answer 2

Not sure if it will work, but is definitely a better idea than windfall profit taxes.

Answer 3

Yes.

Did you know, 2 out of 3 of the people gaining the most from driving up oil futures are Democrats! I thought that was an interesting stat..

Answer 4

You bet! But they will never do it. Goes against the principles of the country even though it might eventually kill us.

Answer 5

No not completely.  We should restrict only those speculators who do not, or never intend to actually take delivery on the product.  They are just doing paper transactions and jacking up the prices.  Those investors who actually take delivery of product should be allowed to proceed.  After all, it is a free market, and trading does go on all around the world.

Answer 6

And accomplish what?  What makes anyone think that the US futures market is the only place to trade oil futures?

Speculators can run up the prices in places like Dubai, the UAE, the Paris Bourse, The Nikei, etc.

Just make all profits on oil speculation taxable at a 100% rate with no write offs for losses.

Answer 7

mr know it all or watever needs to shut the heck up cuz Democrats are the rise to this country its ppl like bush that sque over the country

Answer 8

good idea. or maybe shift the war on terror to the war on speculators.