Friday, September 16, 2011

In Case You Were Wondering

In today's Washington Post, an Op Ed by Bernie Sanders, Senator from Vermont; 
What Wall Street doesn’t want us to know about oil prices

Sanders objects to Wall Street holding the vast majority of the positions during the 2008 spike to 140 for WTI crude. 



And the pertinent data refered to in the piece;

Percentage of US oil market by type - NYMEX and OTC long
and short positions combined (not net) Investment banks 54 pct
Commodity trading houses 15 pct
Hedge funds or investment houses 09 pct
Producers 07 pct
Oil major trading arms 03 pct
National Oil Companies (of consuming countries) 02 pct
Airlines 02 pct
Shipping 02 pct
Refiners 01 pct
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Total 95 pct 

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