Trying to keep the price of oil up

SOMEONE slipped this little bomb wrapped up like a present under your Christmas tree: Starting next month, the New York Mercantile Exchange is going to let average investors speculate on the price of oil and gasoline.

No, don’t pooh-pooh this! Pay attention.

This is big news – and not in a good way – even if you personally are smart enough to toss this gift in the trash.

This is a trick. A Trojan horse.

Wall Street wants to keep speculation at a maximum so it can make profits, even if it means you and I will have to pay as much as possible for the gasoline, natural gas and heating oil we are obliged to use until enlightened leadership slips into Washington one of these years and breaks our energy addiction.

The wire service Bloomberg reported right before the holiday that Nymex will begin trading in a weighted energy index “designed to attract small investors.”

Well, lucky for us!

NY Post