OK, I'm not all that up on the way the "future's" market works, but it sure seems it is the speculators that continue to drive the oil price up by "speculating".... So, how about an "executive order" by obama REQUIRING a 20%, NON refundable, deposit for all "future" oil speculations for the next 90/120 days?.... If you want to reserve oil at $120. per barrel for the end of April/May/June, put up the 20% in cash.... If oil truly goes over $120, a barrel you'll make out fine, if it doesn't, you'll lose your 20% deposit, or be forced to buy at $120., even if it's selling for $65.... If ever there was a reason for an executive order, the un necessary manipulation of oil prices sure seems like it would qualify.... Hell, base it on "National Security" reasons..... A move like that could possibly bring some sanity to the mid east as well....
Ray
Ray