Oil Prices Keep Making Experts Raise Their Eyebrows

Oil Prices Keep Making Experts Raise Eyebrows

May 7, 2011 3:16 PM

(AP Photo/Elaine Thompson)

Reporting Sean Adams

Filed under

Business, Consumer News, Heard On 1010 WINS, WCBS, WFAN, Local, News, Watch + Listen

NEW YORK (WCBS 880) — Federal regulators want to take a closer look at the recent rise and fall of oil prices.

Federal regulators aren’t sure if there’s anything fishy going on with oil prices but the recent volatility—the sharp rise and quick decline—is raising eyebrows. And Bart Schulton, commissioner with the Commodity Futures Trading Commission, said there are questions about other commodities too.

LISTEN: WCBS 880′s Sean Adams reports

“Anytime we see market anomalies like we are seeing currently, as I see in crude, in metals, particularly silver and even in cultural commodities. But we take an extra special magnifying glass out and look at the trades and this situation is certainly no exception to that. I can’t pre-judge what we may be finding. We have talked in the past about speculators,” Schulton said.

The commission is still working on regulations to reign in speculators to limit how much of the market they can control.

Oil Prices Keep Making Experts Raise Eyebrows

Trishe

When the dollar no longer controls the oil and we become officially a 3rd nation, then speculator will stop this game. Go Green…Flisnton style
Jerseyjoey

Oh their eyebrows will really get a lift when the reports of consumer cut backs and spending cuts on services come out for real, you know the true reports that us citizens are not privy too.
Bada Bing

E85 effectively costs MORE than 87 octane regualr gas, because you get significantly less MPG on E85. It’s like paying $5.09 per gallon.
JAX

YEAH, THE GOVERNMENT IS GOING TO PROTECT US….. HA HA HA…. BUNCH OF STEALIN MOFOS
EricG

The govt knows what they are doing. They like to play dumb all the time.

joe casa

HI you are right what are they going to do about these high gas prices and you know we can,t keep paying more then four dollars for gas whats going on in our country.

http://ethicalfutures.wordpress.com HooDatIS?

WE ARE BUYING WEAPONS IN THIRD WORLD COUNTRIES WITH THIS AWFUL PRICE OF OIL
http://ethicalfutures.wordpress.com/
dooglas

Speculation on energy and food supplies is subject to the most fearful emotions that people engender. Everyone gets most scared that they will not be able to eat or drive their car or heat their house. So, markets simply need to increase the fear level through media manipulation and “tada”- prices go up!

The thing that will keep prices down is the truth- and wholesale subscription to it!!
Bob Fowler

Let’s see…crude is at prices that are far from their all-time high, yet at the pump it is.

Ethanol is added, at least 10%, supposedly for emission control, but ethanol reduces the life of the catalytic converter in your car. It also costs more to produce ethanol from corn than crude oil costs. We subsidize the farmers to encourage them to grow enough to keep prices artificially inflated. Ethanol, when added to gasoline, reduces the fuel efficiency of cars. E85 costs less, but is less efficient.

If you want to know why prices are really high, take a look at what is really going on behind the scenes.
joe cuba

the gas prices are controlled by the billions also known as the bush people.never has gas been this way in my 34 years of life until bush stepped until office.this one person took america down because it was about helping his immediate people not the american people.the eron watergate and all other scandals in which he pardoned his people.all the stolen unquestioned money he even pardoned his self so how does noone see this

carter

Learn the facts and learn to spell!!!

INJUN93

BUSH AND CHENEY WERE THE MOST CURRUPT ADMIN. THAT I RECALL AND I VOTED FOR NIXON. IF YOU UNDERSTAND A COMMENT WHY CORRECT SPELLING ?
injun93

OH MAYBE I IT’S SPELING OR SPELLLING.

JM

Cuba, You are a complete idiot! Stunningly ignorant!
Slim

Not a returning champion on Jeopardy, are you ?? Did you flunk blocks in kindergarten and stay back a few decades or so ??
realitycheck

I agree with you. We have spent billions of dollars on the war, but cannot help
America. It is simply ridiculous. However, we keep giving tax breaks to oil
companies and the rich. As the election approaches you will conveniently notice
a decrease in these prices. It is a game they play. Lest we forget it has always
been this way. It is just now more obvious than before. It will not get better