absolutideas

And the stupidity goes on, ban short selling, ban buying, ban everything. And OPEC is more and more powerless.

Bloomberg: 

OPEC and 13 Asian countries urged greater oversight of oil and other commodity markets to prevent a surge in prices after the global economy recovers from the worst recession since World War II.

Participants in a ministerial energy roundtable in Tokyo sought limits on positions in over-the-counter trades and said “excessive” oil-price movements are “undesirable,” according to a statement released after today’s meeting. They also called for “continuous” investments to boost energy supplies. 

Ai note: and why are you not investing? Do you want our money to fund your investments with the reagulation which will ensure that from now you will see continual rise in oil prices? You will see it, you don’t need any regulation, but you have to wait. And fulfill the old reduction quotas..

“Greater oversight of over-the-counter trading is challenging,” Ken Hasegawa, a Tokyo-based commodity derivatives sales manager at Newedge, said after the one-day meeting. “I doubt each government of OPEC and Asian countries is able to look into every oil and commodities contract done by banks, traders and speculators, including sovereign wealth funds.”

Related posts:

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2. “Hidden Tax” of Regulation