Jon Adams

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Username:: jondude
Name:: Jon Adams
Location:: Tiffin, OH
Birthday:: 05/05
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In the summer of 2008 speculators ran up crude oil to $140 a barrel and it collapsed the world economies. It is going to happen again.

Crude is up over four bucks a barrel today.

Here is my plan:

If an investor buys a commodity contract, whether it is oil, sugar, orange juice, or oil (any commodity), that investor must show that he or she or whomever actually uses that commodity in their business. In other words, if you actually could take delivery of the contract, you would be able to use the commodity in your manufacturing or business.

This would stabilize the prices of the contracts and shove it to the gamblers.

posted on Feb 21, 2011 6:44 AM ()

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I hate to say this, but I think it would be good, in many ways, for gas prices to sky rocket. Chaos in action.

comment by solitaire on Feb 22, 2011 6:52 AM ()

The London Financial Times just reported that oil production in Libya is set to drop dramatically as major international companies and sub-contractors evacuate their staff from the north African country, potentially sending oil prices much higher. Hang on to your hat.

comment by marta on Feb 21, 2011 10:29 AM ()

Good point!

comment by marta on Feb 21, 2011 10:12 AM ()

That's like asking Congress to give up their 'perks'--good try but it won't happen!

comment by greatmartin on Feb 21, 2011 8:23 AM ()

Interesting there jon.

comment by fredo on Feb 21, 2011 7:46 AM ()

You are trying to eliminate trading for speculators. That would be a good thing, but I doubt it will ever happen.

comment by tealstar on Feb 21, 2011 7:20 AM ()

There used to be regulations in the commodity exchanges to prevent market cornering, such as back in the early 1980s when a couple brothers in Texas who made billions in the trucking industry started buying up silver and attempted to affect prices by creating shortages. Silver tripled in price before the exchanges put a stop to their greed. I believe someone else, probably a cartel, is doing it again. Silver was under $10 an ounce a couple years ago. Today it is over $32. About 30 percent of oil prices are due to speculation. Granted that the middle east is in turmoil, but we get very little oil from there. Most of our imports are from Canada and Venezuela.

reply by jondude on Feb 21, 2011 7:42 AM ()

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