Nope, congressional testimony says it's so. 2 bucks of every 4 dollar gallon of gas goes to hedge funds.
WASHINGTON (Dow Jones)--Oil prices could fall to half their current levels if Congress puts strict limits on financial investment in energy commodity futures, a panel of experts told a House Committee Monday.
Energy experts said the drop in the price of retail gasoline, currently over $4 on average in the
The Enron loophole is doing the same for everything we buy. This is how the rich get richer, they stash their ill-gotten gains in hedge funds for even more ill-gotten gains. Then protect their wealth by protecting hedge fund corruption, with the infamous loophole leading the way.
Without this corruption, our economy would be able to fund the necessary investment to defeat climate change. But the insider trading won't be touched. Diversion is used to make us think it is really a "free' market setting these disastrous prices.
So what do the guys with their cash in hedge funds, our representatives have in mind? Still more chicanery.
They want to blame it all on sheer trading volume, ban the big players from futures trading, driving still more money through the enron loophole, down the hedge fund toilet. these institutional investors are using the hedge fund's tactics to stay afloat.
Get rid of their main tactical advantage, the Enron loophole. Quit trying to save your own ass..sets. Liquidate your hedge fund positions before you do it. Screw the hedge funds.
