All President Bush really has to do is sign an Executive Order calling the CTFC to investigate the oil futures market and the manipulators will flee causing the oil bubble to explode!
WHY doesn’t he DO THIS NOW?
There are some things going on .,...with out him needing to take the axe out just yet...looking around found this at Marketwatch:
MARK HULBERT
Oil isn't free -- Commentary: Price vulnerable to factors other than supply and demand
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One adviser who has focused on these issues is John Dessauer, editor of the Investors World newsletter. In a recent communication to subscribers, he discussed the impact on the price of oil of the Commodity Futures Modernization Act, which Congress passed in December 2000. One consequence of that legislation, according to Dessauer, is that "the oil market has been grossly distorted."
By how much?
Dessauer estimates that if the government rolled back the regulatory changes made in that legislation, oil's price could fall back all the way to $80 per barrel. That would represent a 40% drop from where crude closed on Tuesday.