Is Oil Speculation Responsible for High Gas Prices?

• “No”

  

  “Speculative Activity on Exchanges is Managed by Position Limits”

• No Objections Yet

Speculative Activity on Exchanges is Managed by Position Limits

New York Mercantile Exchange

Commodity Futures Exchange

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Position limits and accountability levels are required “to diminish potential problems arising from excessively large speculative positions.”  These limits restrict the size of a position that a participant can carry, and are set at a limit that greatly restricts the opportunity to engage in possible manipulative activity.

Next Argument

"No" NYMEX

• Speculative Activity on Exchanges is Managed by Position Limits
  0
• Analyze the Data
  0
• Market Fundamentals Most Important Factor in Current Market
  0
• Demand Continues to Grow, Supply Remains Relatively Constant
  0
• There is No Conclusive Data that Speculators are Driving Up Prices
  0

"Yes" Public Citizen

• Speculation is Knocking the Supply-Demand Fundamentals Out of Whack
  0
• Energy Traders Buying Up Physical Oil Assets in Manipulation Bid
  0
• Real Solutions For a Real Problem
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"Yes" Consumer Federation of America

• Lack of Regulation Has Cost Oil Consumers Billions
  0
• Market Fundamentals Alone Do Not Explain the Current High Prices
  0
• There is a Large Speculative Premium in the Price of Oil
  0
• If Fundamentals Did Not Change, We Have to Find What Did
  0
• The Link Between Trading and Rising Prices
  0
• Regulatory Reform is the Way to Solve the Problem
  0

Most Objections

Speculation = High Gas Prices?

• Yes
• No

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