oil speculation makes me … angry
I’m very conscious of the fact that most of the newspaper articles I post links to are at the Washington Post. I am also conscious of the fact that a) no one else notices and b) no one else cares. but oh boy, did they write themselves an interesting one today.
…
Regulators had long classified a private Swiss energy conglomerate called Vitol as a trader that primarily helped industrial firms that needed oil to run their businesses.
But when the Commodity Futures Trading Commission examined Vitol’s books last month, it found that the firm was in fact more of a speculator, holding oil contracts as a profit-making investment rather than a means of lining up the actual delivery of fuel. Even more surprising to the commodities markets was the massive size of Vitol’s portfolio — at one point in July, the firm held 11 percent of all the oil contracts on the regulated New York Mercantile Exchange.
…
you know, I’m all for measured justice, but I revert into mouth-breathing populism when it comes to this bullshit. it’s so nice to have a name to put to oil speculation. Vitol. I do hope there’s more. I say, give these people to the mob, with pitchforks and torches, and let the mob physically tear them apart.
yes, I’m calling for horrible, horrible acts of violence against these cocksuckers. horrible acts. make their mothers cry.
