It used to be that oil futures could only be purchased by people who actually planned on using the oil that they bought. Deregulation allowed speculators to get in on the action. Now over half of what Americans pay at the pump goes straight into the pockets of Wall Street speculators that add nothing of value to the whole thing.
Neither party is talking about getting speculators out of the oil futures market.
Similarly, speculators are driving up the cost of homes.
1/5
Tofu Golem /
npub16g…rua4j
2024-08-28 02:33:39
Author Public Key
npub16grtcqm8gz6rq9afccr2hql33kpl6pu43g0aa2plwm4x6qtcgyhsurua4jPublished at
2024-08-28 02:33:39Event JSON
{
"id": "cf6114a9bcc1c244ce8b43290dd38fedad5484f4c06e76f31b91d20bd4fd647d",
"pubkey": "d206bc036740b43017a9c606ab83f18d83fd07958a1fdea83f76ea6d0178412f",
"created_at": 1724812419,
"kind": 1,
"tags": [
[
"proxy",
"https://mastodon.social/@tofugolem/113037306705980050",
"web"
],
[
"proxy",
"https://mastodon.social/users/tofugolem/statuses/113037306705980050",
"activitypub"
],
[
"L",
"pink.momostr"
],
[
"l",
"pink.momostr.activitypub:https://mastodon.social/users/tofugolem/statuses/113037306705980050",
"pink.momostr"
],
[
"-"
]
],
"content": "It used to be that oil futures could only be purchased by people who actually planned on using the oil that they bought. Deregulation allowed speculators to get in on the action. Now over half of what Americans pay at the pump goes straight into the pockets of Wall Street speculators that add nothing of value to the whole thing.\n\nNeither party is talking about getting speculators out of the oil futures market.\n\nSimilarly, speculators are driving up the cost of homes.\n\n1/5",
"sig": "c196a7a35e786482eb766d0882890f6be1575f6c43112cefd0b3268fc924b3829a5fd361d013e3ca2b9e051eae8dfb9666e98274e70c4e01611227bd0146a80e"
}