Senators Carl Levin and Dianne Feinstein intend to close the "London loophole" by empowering the CFTC to impose speculative limits on US traders who use London exchanges. The move is aimed at helping to prevent price manipulation and excessive speculation in the oil market.
June 1st, 2008:
US Senators seek curbs on London trading in oil futures
Two cheers for the blessing of high oil prices
IN times like these, it helps to recall that there have always been times like these, said Paul Harvey, a leading radio commentator. A great transformation taking place around the world . . . a tectonic power shift . . . the world is very different, writes Fareed Zakaria in his The Post-American World.
Separating the myths from the facts about North Sea oil
To manage costs, Shell has been selling off some of its core assets in the North Sea to newer and more aggressive companies such as Fairfield Energy.