The Commodities Future Trading Commission (CFTC), working closely with other international regulators including the Financial Services Authority in the UK, has begun a series of detailed inquiries over concerns that energy speculators are behind the rising oil price.
In a detailed statement, the CFTC admitted for the first time that it began its investigation in December, taking what it called the "extraordinary step" of disclosing the probe "because of today's unprecedented market conditions".
The CFTC declined to discuss the specifics of the investigation, but stressed that all of its enforcement inquiries were focused on "ensuring that the markets are properly policed for manipulation and abusive practices".
Billionaire investor George Soros talks to Edmund Conway about oil prices
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That is interesting...hmmm. Thanks for the heads up - I hadn't seen that anywhere.
yea...its a little late dont you think Courtney?
Steve,
How do you avoid "manipulation and abusive practices" by a monopoly?
Eric...how silly of me. Lol...I forgot it was a monopoly!