Cramer: Oil Futures Market Is a 'Farce'
Without further regulation, CNBC's Jim Cramer says that manipulation of the energy futures market is virtually inevitable. Right now traders can use near-unlimited credit to swing prices in either direction, and that’s causing false valuations of oil and natural gas.
“The oil futures market? It’s a total farce,” Cramer said, adding that he was “stunned and outraged” by the speculation and Washington’s seeming inability so far to curb it.
Posted on July 8, 2009
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