The problem with speculation, is that today, they have no limits on how much you can speculate. Until Ragaen de-regulated in the 80s, there were limits on how much you could play the futures markets, and basically, if you weren't a large producer, processor, transporter, or retailer/end user, you didn't do much. That ensured that the markets would be a tool to make sure supply and demand could be matched, and that the prices would be set by the people who handled the largest amounts of the commodity. Today, you can buy and sell any amount of a commodity that you have the money to do so, with no intention of ever taking delivery of that commodity. Which has taken the balance between supply and demand out of the equation determining the price. If they would enforce those limits again, or make people who buy futures, take delivery of the commodity, the prices would stabilize where they should be. There is no reason oil prices should be rising while stocks of both refined and unrefined product are at near-record highs and growing.
You'll never hear that on talk radio. I'd like to know just how much the big-name hosts make a year in the commodities markets. That's why you will never hear it from them, they make too much money doing it while giving you a line of BS about how the markets are driven purely by supply and demand.
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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