Ever hear of the United States Energy Information Administration? Thought not. It was formed by Congress in 1977 to monitor energy information. It provides information to the CFTC so that the CFTC can monitor the markets in regulates. On April 9 the USEIA released a second interim report stating that, based on the information it has, it still cannot blame last year's oil price hike on specualtors. So what information does the USEIA have?
It only has the trades on the New York Mercantile Exchange. IT HAS NO INFORMATION ON THE OVER THE COUNTER UNREGULATED MARKETS SUCH AS ICE. So, all trades that use the Enron loophole, created by former Goldman man Mr. Gensler, escape scrutiny altogether. And now our president wants to put Mr. Gensler in charge of the CFTC. Like I said, you can't make this stuff up.