Optiver has been manipulating the oil and energy market
The U.S. Commodity Futures Trading Commission said Thursday it has charged Optiver Holding BV with manipulation of crude oil and other energy futures contracts from which the firm reaped profits of approximately $1 million.
While this is by no means the sole reason that we are seeing higher fuel and enery costs, but it doesn’t surprise me that something like this is at least partially to blame.
There is so much money being made in the oil and energy industries that it has completely corrupted the system and is a reason why we don’t have any real alternative fuel and energy solutions.
Don’t get me wrong, I fully believe in capitalism and a businesses’ right to turn a profit, but when it comes down to making a profit at the expense of the American people I am outraged. Something needs to be done so that our energy (which is not a luxury but a necessity for everyone) is not being corrupted and prices driven up as a result.
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Tags: CFTC, corruption, energy manipulation, oil, Optiver, profit
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July 24th, 2008 at 1:33 pm
[...] Original post by Kevin Colby: Libertarian Political News Blog [...]