Considering 1) demand for oil has relatively stayed stable and 2) oil supplies are at all time highs, and oil futures price just keeps going up, it's obvious that it's the futures traders that are causing all this pain and suffering on the common man.
I say we impose a 95% tax on profits made by oil futures traders, and tell them it will start X months from now. This will cause all the fvcking hedge funds to close their positions (sell) and lower futures prices. This would be exempt to entities that actually have legitimate hedging needs through futures market (i.e. airliners, oil companies). This would stop the flow of the billions of dollars into hedge funds who, like a ponzi scheme, prop up oil prices.
The days of oil prices spiking because some oil field in Nigeria got attacked would be over.
I say we impose a 95% tax on profits made by oil futures traders, and tell them it will start X months from now. This will cause all the fvcking hedge funds to close their positions (sell) and lower futures prices. This would be exempt to entities that actually have legitimate hedging needs through futures market (i.e. airliners, oil companies). This would stop the flow of the billions of dollars into hedge funds who, like a ponzi scheme, prop up oil prices.
The days of oil prices spiking because some oil field in Nigeria got attacked would be over.