Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00090

Submission Number:
535819-00090
Commenter:
Penny Donaly
State:
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

If indeed we have passed peak oil, are using it faster than we can refine it, and are truly running out---Why are people (investors or speculators) maddly buying into the commodiites market? Goldman Sachs says it will one day be $200 a barrel so the price of the barrel jumped overnight. Apparently they believe there is enough oil to last until that point in time. If you really KNEW we were nearing the end of a commodity that was non renewable, would you be spending millions or whatever these investors are spending to buy into something that you may one day not be able to deliver? They obviously know something we don't. Wouldn't you buy into a commodity that will always be around? If Bush and the oil companies know we are running out as they say we are, would they really be pushing to drill for more oil? That would just be an expensive bandage. I would not believe the gouging and manipulation if the government was keeping the price down to keep the economy going and maddly pursuing any means of oil independence. Thanks for allowing us to making these comments. Hopefully you will find some evidence that will stop the madness before it destoys the more wonderful country in the world.