you don t have to make deliver riff the oil. margin requirement is one issue. you are absolutely correct there has been no change. just make that higher. make the margin requirement higher. you can do that that s precisely what they did a year ago. that would be wise to do. that s a matter for the imex. can you right now hold 30% of the market under the rules established by the commodity future trading commission. that s insane. and by the way, you have got more speculators in the market now than well. bill: the oil companies like that speculators can drive up and they say we can t do anything about it but they could. have to refine oil. in a state trooper sends a picture of himself to a 13-year-old girl. most police officers are in the union. so the guy gets in trouble but he doesn t lose any of his
you don t have to make deliver riff the oil. margin requirement is one issue. you are absolutely correct there has been no change. just make that higher. make the margin requirement higher. you can do that that s precisely what they did a year ago. that would be wise to do. that s a matter for the imex. can you right now hold 30% of the market under the rules established by the commodity future trading commission. that s insane. and by the way, you have got more speculators in the market now than well. bill: the oil companies like that speculators can drive up and they say we can t do anything about it but they could. have to refine oil. in a state trooper sends a picture of himself to a 13-year-old girl. most police officers are in the union. so the guy gets in trouble but he doesn t lose any of his
but when speculation is driving up the cost, as goldman sachs says, about about $27 a barrel, and bart chilton of the commodity future trading commission, he said about 15 bucks every time you fill up your tank. but there s increased demand. you have china and india that has an unbelievable appetite and is driving it up as well. i m curious, a couple things, how much do you want to tap into the 700 million? that s the first thing. secondly, how long do you think it will have an impact? it s a short term solution. and thirdly, when are we going to fill it back up? number one, you are right, if the economy starts to get a little bit stronger and as we get increasing demand from china and india and other country,s, that will have an impact on the price. and that s where senator thune was talking about, it is a legitimate issue because you need a long-term strategy to deal with that.
energy strategy. but when speculation is driving up the cost, as goldman sachs says, about about $27 a barrel, and bart chilton of the commodity future trading commission, he said about 15 bucks every time you fill up your tank. but there s increased demand. you have china and india that has an unbelievable appetite and is driving it up as well. i m curious, a couple things, how much do you want to tap into the 700 million? that s the first thing. secondly, how long do you think it will have an impact? it s a short term solution. and thirdly, when are we going to fill it back up? number one, you are right, if the economy starts to get a little bit stronger and as we get increasing demand from china and india and other country,s, that will have an impact on the price. and that s where senator thune was talking about, it is a legitimate issue because you need a long-term strategy to deal with that.
especially because just this week opec announced it s cutting oil production because there is too much product in the world. isn t it beautiful? we re sitting there and listen rg, bill, to the president of the united states talking about a risk premium of 20% on crude oil and effectively then gasoline. but he is the guy who made certain that that risk premium went up when 32 days ago he attacked libya. is he working supply and demand as well as the speculative bubble that persists around these prices. bill: is there anything a president could do to reign in speculators? absolutely. bill: what could he or she do? this president, instead of sitting there bemoaning awful speculators could actually through the federal government simply order an increase in margin requirements on the new york mercantile exchange. bill: key sign an executive order for that? no. he can order his commodity future trading commission to do it. he can have a very here is something presidents often