Brain
Posts: 3792
Joined: 2/14/2007
Status: offline
|
These guys are a royal pain in the ass. I wonder if their fans here are still going to be fans when they find out their a cause of the problem of ridiculously high oil prices.
How Koch Became An Oil Speculation Powerhouse
In April, ThinkProgress caused a stir when we uncovered a series of Koch Industries corporate documents revealing the company’s role as an oil speculator. Like many oil companies, Koch uses legitimate hedging products to create price stability. However, the documents reveal that Koch is also participating in the unregulated derivatives markets as a financial player, buying and selling speculative products that are increasingly contributing to the skyrocketing price of oil. Excessive energy speculation today is at its highest levels ever, and even Goldman Sachs now admits that at least $27 of the price of crude oil is a result from reckless speculation rather than market fundamentals of supply and demand. Many experts interviewed by ThinkProgress argue that the figure is far higher, and out of control speculation has doubled the current price of crude oil.
http://thinkprogress.org/report/koch-oil-speculation/
David and Charles Koch
 Attachment (1)
|
How Koch Became An Oil Speculation Powerhouse - 
Profile
New Messages
No New Messages
Hot Topic w/ New Messages
Hot Topic w/o New Messages
Locked w/ New Messages
Locked w/o New Messages
Post New Thread