With the collective grumbling of millions of American motorists MAY (before a election time) compel lawmakers to prove they're doing something, we know there's no shortage of oil out there also. This is how "gas station's" themselves use this commodities market for oil in this hidden transparency all are overlooking, the recent jump in oil prices is caused by excessive speculation, and all businesses do this. Works like this, oil sells for say $55 a barrel on the stock market, however, the owner needs to BUY IT RIGHT NOW for that price, but in the future (say 2 years from now) it may go up to that $145 a barrel that you read about not in the news daily, so, now at the pump, to pay for this later, they raise the price of gas, profit for the future, for when oil reaches that price then. At least President Nixon put on a price freeze back in the 70's when this went on back than, that stops this folks, but it may also make the station go broke as well today. All you can do is call your US Senator and Congressman today.

I'm glad to see that Congress is finally getting around to doing something about speculation in the oil commodities futures market. They are a "dollar short and a day late."

But they didn't go far enough. They should require that anyone buying oil futures should be required to take delivery of the commodity when the contract expires. That would put a definite end to the speculation... which is nothing more than buying and selling pieces of paper with the words "oil futures contract" written on it.

A commodity as indispensable to the health of an economy as oil/gas, should never be allowed to be toyed with by speculators. Trade pork bellies, wheat, corn, etc., all you wish because these items are not finite source commodities, not of prime necessity, and not controlled by monopolies.

What about liquidity, you asked? Who cares about liquidity? Liquidity only means that investors can easily move large sums of money at a whim. Reducing liquidity will level economic swings... much to the dismay of speculators and others, of course, who rely on market volatility to "earn" a buck.

Every time the Federal Government has entered a market to fix things they have ruined the market.

If congress wants to look at things for political gain then we will have a short term dip in oil prices to make it all look good.

If the government really gets involved then the price of gas could go well over $20 a gallon the way the goverment runs things.

Be careful what you wish for.

All you can do is call your US Senator and Congressman today and every day thereafter till this gets done before November 2008.

Remember folks

All you can do is call your US Senator and Congressman today and every day thereafter till this gets done before November 2008.

Get Busy right now.