commodity trading

Gas Price Map and 2004 Election Results Comparison: Coincidence?

Becca of DelphiForums noticed an interesting coincidence between the current gas price temperature map and the results of the 2004 Presidential election: can you spot it, too?

Could this simply be a coincidental reflection of relative demand, population density or other economic demographics, or could it reflect potential market manipulation by commodity traders, now under investigation?

What do you think? It's not as thought there's any kind of evidence of Republicans ever gaming the system, right?

CFTC Investigating Oil Trading; Market Manipulation Suspected

On May 29, the CFTC announced an investigation of oil trading, looking for direct evidence that traders deliberately sought to skew the markets.

From Bloomberg:

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"The key to this is: what is the intent of the trading?" said Geoffrey Aronow, a former head of enforcement for the CFTC. "Is the sole intent to try to move the price of the commodity -- in this case, crude oil? Or does the trading have a reasonable commercial justification?"

Record-high oil costs have prompted lawmakers to press for scrutiny of whether speculative trading is artificially pushing up prices artificially.

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It's a very Enronesque scenario.