Regulators Sue Speculators for $150 million
The Commodities Future Trading Commission (CFTC) announced yesterday that they are suing two oil traders accused of manipulating the oil markets in the 2008 run-up to $147 per barrel oil.
The Federal regulatory agency is on a witch-hunt to blame anyone and everyone in anticipation of even higher oil prices in the upcoming months.
Whether the CFTC likes it or not, the fact is that peak oil production probably happened sometime in 2006. With continued oil usage coming from the east (especially China) it should be of little surprise that oil prices keep going up.
And this latest lawsuit from the CFTC will likely have the opposite of the intended effect, resulting in a chilling effect on the oil markets, decreasing liquidity and causing prices to rise.
To take advantage of higher priced oil, analyst Tyler Laundon of Wyatt Investment Research recently put together an in-depth investment research report on how to invest in European oil and gas companies.
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