Supporters Speak Out
Financial and energy experts and policymakers are vocal on the topic of oil speculation and the need for reform. See what supporters are saying:
Quotes by Financial and Energy Experts
- "This reclassification issue highlights the fact that improvements are still needed in the area of data collection and that the agency does not yet have the comprehensive data we need to make any declarative statements about the overall role of speculators in commodity markets," said Democratic CFTC Commissioner Bart Chilton. Reuters 8/5/08.
- "Some people say that buying oil futures cannot affect prices because someone else is always selling. But then if that were true, no price would ever change. Concentrated buying has to affect the market price for oil." - Ben Stein. Yahoo Finance 08/4/08.
- "Speculators are playing a role. I fear it is a significant amount of speculation." - Michael Greenberger, former director of Trading and Markets for the CFTC. Detroit Free Press 8/7/08.
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Quotes by Members of Congress and Other Elected Officials
- "Supply and demand is out of kilter by speculation" - Rep. C.A Ruppersberger (D-MD). Community Times 8/6/08.
- "We are hearing that supply and demand is the culprit, but we know we are missing a federal cop on the beat. (I) am calling on the Commodities Futures Trading Commission finally to do their job and shine a bright light on dark trading practices to stop excessive speculation in the oil markets." - Senator Maria Cantwell (D-WA). The Columbian 8/6/08.
- "I`d like someone to tell me what has happened to supply and demand in the last year that has justified the doubling of the price of oil and gas. They can`t, and they won`t because nothing has happened with respect to supply and demand that justified a doubling." - Senator Byron Dorgan (D-ND). KFYR-TV North Dakota 8/5/08.
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