Posted by greenbeanman in Kansas on February 26, 2011 at 17:48:11 from (108.67.112.115):
In Reply to: Re: OT Fuel Prices posted by rrlund on February 26, 2011 at 11:29:48:
Sorry, I was watching a movie so didn't see your question until now.
"Just to play devils advocate here,not to attack your logic,but how do the oil companies share any of the blame?"
The oil companies are partly to blame as they play the commodity "what if" game too. They are of course are in part doing so to cover their risks for meeting supply and demand at proper levels.
It is my understanding that the commodity boards of trade were originally established to bring buyers and sellers together, with the sellers being grain merchants and not specifically farmers. Not sure how speculative the markets were back then.
My gg uncle had a seat on the Chicago Board of Trade in the 1800s. I'll ask him the next time I see him for his opinions.
Sure would like to get a hold of a biography on him to see if I could learn more about him.
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