OT: One man sent oil over $100

Personal ambition, just like a politician. Now he has his 15 minutes of fame, what's next?

Isn't that something? He lost over $600 just so he could say he was responsible for $100/BBL oil...

Actually, this happens constantly, and should be outlawed once and for all. If you or I have enough cash, we can manipulate the price of oil. Doesn't matter who you are. Recreational trader, mutual fund manager, anyone. That's absurd, considering the importance of this key resource.

Er, Joe, you can manipulate the price of ANY stock or commodity this way.

Oil enjoys no special privilege. Privilege is only for those who control what you think you own.

Media included.

You're right. Any commodity.

But, consider this: In another industry you do business with constantly, no external gambling parlor is needed to keep prices from fluctuating for reasons that have no basis in physical reality. It's the grocery business. Yes, there are futures markets for a few things, like hog bellies, but not for the overwhelming variety of things we buy. The industry has its own ways of hedging, so there's no need for amateurs and wise guys.

This is how oil should be.

To add to this, IMO people who manipulate commodity prices to their advantage, suffering of people be damned, should be "found" by the "right people".

Surely you're not suggesting violence. If you are, can I watch?

Not me.

Sure.

The loss will off be offset by gains, I think it's kinda cool. For 600 bucks he made history. I expect to see the paperwork sold on e-bay one of these days it will eventually wind up on a collectors wall in a frame with a bunch of news clips along side the one for 10.00 wheat and 1,000 dollar gold.