Oil Futures Speculation
Oil futures speculation has been around for quite some time. The US president Barrack Obama did announce the 4 sector plan technically designed to break the peculation that takes place in the oil futures market. This announcement did add some weight to the usual speculations taking place in the market. This plan came soon after closing down the possible loopholes found during the Enron accounting. This loophole does kind of releases some traders from the social known regulation. |
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This kind of special exemption was charged for Enron which had actually passed a bill under the head of McCain Co-chair Sen. This loophole will simply not allow the regulators to look into the oil market. The main focus was on energy policy which was always meant for certain special regulators who for their selfish motives create loopholes in the system and reap enormous profit. The plan introduced by the president does bring the Enron loophole to an end and sees the broader picture by taking the burden off from unemployed families.
Today, 30 percent of all the US oil market is not regulated. The president also supports any kind of legislation that will directly affect the Commodity Futures Trading Commission. He called for the Federal Trade Commission (FTC) and Department of Justice (DOJ) to totally understand and look out for price manipulation happening in the oil market. However, on the contrary, the Bush administration feels the high oil prices are nowhere related to oil speculation.
Many researchers and economists do support Barack Obama and feel that 305 of rise in prices are due to unnecessary speculation. They feel the need is for a four part plan which will close down all the loopholes and bring back proper regulation.
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The Great Depression is one of the biggest blotches in the financial history of not only the US, but also of the world. This started in the year 1929 and continued to stay for the next ten years. The economic condition all over the world experienced an all time low in that period. There are various factors that are held responsible for this phase in the economic history. Some of the speculations are discussed in this article.