[p2p-research] Fwd: any insights on oil price manipulation?

[Michel Bauwens]

---------- Forwarded message ----------
From: chris cook <cojock at hotmail.com>
Date: Sat, Aug 15, 2009 at 3:44 PM
Subject: RE: any insights on oil price manipulation?
To: Michel Bauwens <michelsub2004 at gmail.com>


Hi Michel

This subject is a "core competence" of mine, as you know.

I gave evidence to the UK Parliament's Treasury Select Committee on the
subject last year.

http://www.theherald.co.uk/business/news/display.var.2403340.0.Trade_body_should_be_in_control_of_oil_sales.php

Following recent US political interest (as oil prices rose again) I recently
set out at length here

http://seekingalpha.com/article/151480-the-abcs-of-oil-manipulation?source=email

my views on manipulation, and its recent history.

This recent interview

http://www.hardassetsinvestor.com/features-and-interviews/1/1703-chris-cook-energy-etfs-not-to-blame.html

has also received a lot of interest.

The bottom line is that in order to influence the physical market price you
have to be able to secure supply. In the energy markets most exchange-traded
futures contracts are entirely useless for this purpose. As I point out, all
of the naughtiness goes on "off exchange" in the aptly-named "Brent Complex"
of contracts.

The exchanges are the visible tail of the invisible oil market dog and it is
principally the big traders and investment banks who are responsible for
this OTC (over the counter) manipulation, not the funds.

But in the long run, it is supply and demand which set the price. The
middlemen make their money out of medium and short term volatility at the
expense of producers and consumers.

The solution is, of course, a dis-intermediated  Peer to Peer *Market 3.0*,
and the starting point for that - ie how we get "thre" from "here" - is a
shared transaction and title repository.

Best Regards

Chris Cook


------------------------------
Date: Sat, 15 Aug 2009 08:27:28 +0700
Subject: any insights on oil price manipulation?
From: michelsub2004 at gmail.com
To: p2presearch at listcultures.org
CC: cojock at hotmail.com


>From Sepp:

Does anyone else have a feeling that oil prices may be purposely steered in
a desired direction, that changes in oil prices are not necessarily due to a
physical shortage of oil but to a refusal to develop new (already known)
sources and ‘judicious’ buying/selling of oil futures to influence the price
level?
My ideas on this are in these two blog posts:
http://blog.hasslberger.com/2008/02/the_peak_oil_deception_squeezi.html
http://blog.hasslberger.com/2008/11/renewable_coal_oil_and_gas_hyd.html


-- 
Work: http://en.wikipedia.org/wiki/Dhurakij_Pundit_University - Research:
http://www.dpu.ac.th/dpuic/info/Research.html - Think thank:
http://www.asianforesightinstitute.org/index.php/eng/The-AFI

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-- 
Work: http://en.wikipedia.org/wiki/Dhurakij_Pundit_University - Research:
http://www.dpu.ac.th/dpuic/info/Research.html - Think thank:
http://www.asianforesightinstitute.org/index.php/eng/The-AFI

P2P Foundation: http://p2pfoundation.net  - http://blog.p2pfoundation.net

Connect: http://p2pfoundation.ning.com; Discuss:
http://listcultures.org/mailman/listinfo/p2presearch_listcultures.org

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