Why doesn't the President of the United States issue an Executive Order to limit commodity speculation?

Question

Isn't this a matter of National Security at this point? International Electronic Trading is unregulated at this point! If the price of oil is bid up enough, the American People cannot survive! Where is George Bush on this issue?

Answer 1

I am pretty sure it would be unconsitutional.

Answer 2

Because that would make him a dictator !

Answer 3

In the first place, executive orders only apply to members of the Executive Branch.  Read your Constitution.

All legislative power is in the hands of a Congress.  That means that there is NONE in the Executive Branch.

And speculation does not bid up prices, unless the speculators actually purchase the commodity.  The reasons oil prices have skyrocketed are, one:  the declining value of the dollar.  Our politicians are borrowing a billion dollars a day, and simultaneously, monetizing the deficit by selling treasury bonds to the Federal Reserve.  The Federal Reserve purchases these interest bearing bonds with federal reserve notes, that it creates out of nothing!  This is the source of inflation.

And two:  Our politicians have stopped the offshore exploration and exploitation of oil.  They delayed the Alaska Pipeline for years.  They have stopped the building of nuclear plants, and oil refineries.  They have done everything possible to maintain a monopoly for the big oil companies.

The Free Market would depress the price of oil, but the Free Market cannot exist when we have Department of Energy, which exists to maintain the highest possible price for the big oil companies.

Get government out of the energy business, and prices will come down.

Answer 4

You clearly have no idea what "commodity speculation" is, hence your question.

Answer 5

That's for the FTC to decide, not the President.  As long as the government has enough fuel to supply its military and various intelligence organizations, there is no national security issue.

Answer 6

Because he can't, the President doesn't have that power.

Answer 7

Jimmy Carter tried something along those lines.  Didn't that work out well?  That's the deal with free markets, sometimes it's great, sometimes it's not.