Tag: Commodity Futures Trading Commission

Cross posted from The Stars Hollow Gazette

Amidst the worst drought in 50 years, Up host Chris Hayes discusses climate change on the price of food. Joining Chris are:

Bryn Bird, second-generation farmer in Granville, Ohio at Bird’s Haven Farms.  She is also a field outreach coordinator for Rural Coalition;

Amy Goodman, host of Democracy Now!, author of “Breaking the Sound Barrier,” and syndicated columnist for King Features;

Josh Barro (@jbarro), contributor to Forbes.com with “The Barrometer;”

Stacy-Marie Ishmael (@s_m_i), adjunct professor at CUNY Graduate School of Journalism, former editor of “FT Tilt;”

Gary Gensler (@cftc), chairman of the Commodity Futures Trading Commission since May 2009. Gensler previously served as the under-secretary of domestic finance at the Treasury Department.

Crude Oil Futures: Crude Oil Tops $100 for 2018 on Threat From BP Spill

Energy Markets

Margot Habiby, Bloomberg – May 5, 2010

Crude oil futures for delivery in 2018 surged above $100 a barrel this week as the BP oil spill in the Gulf of Mexico led the government to consider a halt in future drilling.

The crude oil futures contract dated furthest into the future jumped after President Barack Obama said no new offshore drilling leases should be issued until a “thorough review” of the April 20 rig explosion. […]

Crude oil futures for delivery in December 2018 rose to $100.38 a barrel May 3 on the New York Mercantile Exchange, the highest settlement since Jan. 20. […]

“You may not pay today, but we will pay tomorrow,” Phil Flynn, vice president of research at PFGBest in Chicago, said in a report.

[…]

“That $100 oil equates to pretty close to $4 a gallon gasoline” in the U.S., said Bruce Bullock, director of the Maguire Energy Institute at Southern Methodist University in Dallas. “We know when it hit $3 a gallon two years ago drivers started to get concerned, and at $4 a gallon demand evaporated.”

If you missed Dylan Ratigan’s interview today with Senator Maria Cantwell (D-WA) — well you missed a lot!

They spell out in stark relief the very REAL need for serious Wall Street Regulation — NOW!   (and still!)

Or we risk a repeat of the same Bubble-driven collapse of Trillion Dollar Derivative Bets, that occur in the dark, beyond the reach — or even the Watch — of any Govt Regulator, or even the Public scrutinity.

Nothing has changed, they can STILL Gamble Trillions in Derivatives, and let US the Taxpayers pick up the Tab, whenever their Bets GO Bad!

Link to MSNBC Clip to the Ratigan Cantwell Interview

Definitely a “Must See”, in my opinion.

So much so, I transcribed much of it, to help peak your interest …