You really don’t understand how markets and free trade work, do you?
Consider the one commodity for which Congress has banned futures trading: onions
Then check and see if that action improved price stability.
Hint: onion farmers would tell you “No.”
Somehow I don’t see the oil companies going the way of the onion farmer. Somehow, I think their product is going to be profitable well into the future and I hope it is. I hope these gas prices aren’t this high well into the future though or our overall economy is going to be devastated.
I only know the basics about how the markets work but how much smarter than a sack of potatoes would one have to be to conclude that things are not adding up when worldwide supply of oil has increased since 1987, demand has risen by 3.8% and prices for gas in the U.S. has more than tripled in 6 years?
Please explain to me how this is possible without speculation being a significant factor and I’ll be glad to change my mind. So far, nobody has been able to explain that and I’ve asked several times before.