Hearing on Energy Price Manipulation - Greenberger Testimony

The Energy and Commerce Subcommittee on Oversight and Investigations holds a hearing, "Energy Speculation: Is Greater Regulation Necessary to Stop Price Manipulation?" Professor Michael Greenberger, Director of the Center for Health and Homeland Security at University of Maryland, gives opening testimony.

Category:

News & Politics

Tags:

• Democrats
• Congress
• Oversight
• Hearing
• Energy
• Gas
• Prices
• Gouging
• Manipulation
• Michael
• Greenberger

[banjo234]

Everybody should hear this man speak. This is a difficult subject to understand but this professor, clearly a brave and honest man, says it clearly.......fraud.....specul­ation....loopholes. Even if you don't understand the detail you understand this. There is no shortage of oil. There are crooks who have moved on from raping the property markets to raping the oil/energy/commodities markets.

[toechesse]

He is one of the last honest man in marketing that will tell it like it is.

[tgolferman1]

2:41 thru 2:55

[sonnyinceric]

Watch the man's hand it's shaking like mad, he's definitely nervous or mad??

[lucki39284]

Is the stake finally through the Reagan myth once and for all?

[whitespideralex]

I believe the real bosses of events like these are still uncovered. I believe that a few top guys that control most of the capitals in this country are truely responsible for these. Aren't there several capital groups that controls most of the treasure of this country?

[kurtscash]

join pickens plan now

[seneca67]

Well, there we are. The truth. THis is the truth!

[sunnskyy]

The not-so-scientific oil price formula: (A + B + C) x D = E A = 1 US President from Texas B = Existence of A's deep family friendships among Saudi royalty C = 1 unconstitutional US invasion of the #3 OPEC member country D = Length, in years, of US occupation of invaded country factored into C, above E = Oil Price *Note 1: change in A will reduce E Note 2: B is constant Note 3: C is constant Note 4: Limiting D will reduce E

[ehunter2]

Oh yeah, Brian Hunter who manipulated the price of Natural Gas and screwed Americans out of billions of dollars, he went free. And is out there setting up shop again.

But if you steal $147 at a 7-11 you go to jail for years.

[ehunter2]

How the speculators are hiding there manipulation is via initiating their trades in Europe. Using the Intercontinental Commodities Exchange they dont have to abide by any limits, or even declare who they are.

The ICE then transacts the exchange on the New York Mercantile Exchange which is regulated, but has no control over orders of European origin. The people playing this game are huge banks, huge hedge funds..but we they are able to hide. The American taxpayer pays the price.

[rspawn]

If the high price of oil is only due to price manipulation, you'd have to explain away some $100 per barrel, or some 70% of the price.

The high price of crude oil is due to *both* Peak Oil *and* price manipulation; windfall profits due to shortages is nothing new. It's evil, but not new.