"Investigate the Oil Market, Congress!" It’s Another Enron!

iReport — The World suffers again as every human value – love, hope, community, belief, ambition and even the bond between father and son – is imperiled by corruption, deception and the flow of oil. American’s pain at the pump is nothing new. This story is as old as the discovery of oil and has been illustrated for all of us in the movie, "There Will Be Blood". This movie focused on a black-eyed, self-made oilman named Daniel Plainview (Daniel Day-Lewis).The worm in the apple here is less man's greed than his vanity.Power and control is what's a stake. These things require the money that oil generates. "Even if no barrels were impacted in the Middle East, the bullish run on oil will use this or any other supply threat to push prices up. " "Manufactured fear' and greed are the key economic drivers behind the rise in oil and gas prices. Never miss the opportunity a good Libyan crisis brings." "The oil must flow". But now, it's going to cost us more because we still need it. The recent "price increases" are the result of oil speculation. They are the desperate acts of men determined to extract every drop of profit from what they see as a dying industry. The World is turning to alternative energies; but not fast enough. Over the course of an average month at the NYMEX, 5 BILLION barrels of oil will be traded, with a fee being collected on every single transaction which is ultimately passed down to US consumers, yet less than 40M barrels will actually be delivered.   That is just 8 tenths of 1 percent of actual demand for the product that is being traded - 99.2% of the oil transaction fees being paid by the American people do nothing more than create fees for the traders and record profits and bonuses for the trading firms! The single word that strikes fear into the black gold hearts of oil traders is only 5 syllables long - In-ves-ti-ga-tion. The mere mention of an Investigation brought gas at the pump down 40 cents last time Congress mentioned this word. Congress a...

Channel: iReport Video Length: 0s Date Found: Wed, Mar 09 2011 11:15 PM Category: News Date Produced: View Count: 0