Question for policy wonks: Can oil speculation be curbed/ended through Congressional legislation?

[blm]

And, if that answer is yes, why aren't Dems prepared to submit that legislation to the congress and senate?

Or, would the effort to curb/end oil speculation come from the WH before legislators?

Thanks.

.

[GopperStopper2680]

1. The Speculation isn't the problem here

Speculation isn't the problem here. It's the fact that oil is running out. Period. You can speculate, not speculate, whine, cry, pout, stomp your feet, or puff your cheeks up and turn red. The age of oil is coming to a close. Look around. The Arabs are drilling offshore. What do you think that tells you?

[earthside]

2. If Congress/President Acknowledged Peak Oil

Indeed.

If Congress and the executive branch would acknowledge 'Peak Oil' and begin the process of seriously moving from petroleum to significant and momentous conservation, to a crash-program of alternative fuels ... and begin the wind-down of the consumer economy, well, yes, speculation would begin to lose impact.

In my opinion, we probably hit the plateau of peak oil production in 2005 or so and we are now very close to the other side of that mesa. What will shortly follow will be a somewhat precipitous decline in petroleum production.

The truth is that what we have done thus far in energy conservation and alternatives are just baby steps. Sadly, we are probably too late to avoid real pain, global political and economic disruption that will be a consequences of falling oil reserves.

But the words 'Peak Oil' have not passed out of the mouths of our Presidents of late nor the Congress (except Rep. Bartlett of Maryland). It is just too politically risky to mention that the hydrocarbon age that made the US. especially a major power is on a collision course with physical reality.

[Junkdrawer]

4. Oh, there's about another 10 years of cheap oil out there. BUT....

as Dick Cheney said, it's in politically unstable regions of the world.

Like Iraq...

Like the Caspian Sea region (although less than they thought so far)...

Like The Congo....

[surfdog]

10. 100% not accurate

Production is up demand is down , there goes that Theory

[cthulu2016]

3. Since oil is an international market, no

[ProSense]

5. Well

"And, if that answer is yes, why aren't Dems prepared to submit that legislation to the congress and senate? "

...whatever they do, they need to kill the GOP noise. It's absurd.

[blm]

8. That's for certain! Seems some legislation like this might frame the debate and

put it exactly where it should be going forward.

[MadHound]

6. Yes, it can be curbed,

Regulations could be put in place that would limit the worst excesses of speculation.

But the Democrats aren't going to bite the hands that feed them, just as Republicans won't either. Thus we the people are left to the tender mercies of the crony-capitalist market.

[hifiguy]

7. It could be curbed by requiring that anyone who operates in the

international oil market be able to take delivery of the oil on which they are speculating. The banksters have no way of taking delivery of oil, unlike a refinery.

[elleng]

9. Commodoties Futures Trading Commission has authority,

but has failed satisfactorily to exercise it.

http://www.cftc.gov/IndustryOversight/MarketSurveillance/SpeculativeLimits/index.htm

Wall Street Groups Seek Delay of CFTC Commodity Speculation Limits Rule.

http://www.bloomberg.com/news/2012-01-10/wall-street-groups-seek-delay-of-cftc-commodity-speculation-limits-rule.html

[blm]

11. Well, we can SEE why they are slow-walking this....

they want to squeeze hundreds of billions of dollars more out of working Americans.