How Koch Became An Oil Speculation Powerhouse From Inventing Oil Derivatives To Deregulating The Market 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. The Robin Hood Tax can be a game changer for a fairer, more democratic, more humane, more balanced, and more moral America. Please LIKE and SHARE this post thinkprogress.org/report/koch-oil-speculation/
Posted on: Tue, 05 Nov 2013 21:04:17 +0000
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