What difference will it make? Another 200,000 barrels is just more money in the commodity traders pockets.
This was posted May 30 and since then nothings changed, except the price at the pump which has gone up while oil per barrel has gone down. Go figure.
$1:
During continued volatility in oil prices, federal regulators said yesterday that they had been investigating crude oil trading, storage and transportation for the past six months with a focus on possible "futures market manipulation."
The Commodity Futures Trading Commission, which normally keeps investigations confidential, said in a statement that it was "taking the extraordinary step of disclosing this investigation because of today's unprecedented market conditions."
Those conditions have sent oil prices to record heights, adding to the U.S. trade deficit, hurting consumers and companies, and weighing heavily on the nation's economy.
Gregory Mocek, director of enforcement at the CFTC, said five senior trial lawyers, "some of the most experienced prosecutors that we have," and other investigators were engaged in the inquiry. "The scope is quite broad," Mocek said, adding that the commission was looking at the "national crude market," including trades on regulated exchanges, cash trades, storage, pipeline operations and shipping.
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