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Cause and effect for oil traders

POSTED April 1, 2011 9:17 p.m.

Dear Editor,

I believe that fear and speculation by oil investors have been driving oil prices high, even when there is plenty of supply on hand. When just a few people can influence what oil prices are to be, they can make a profit while millions of people suffer from high oil prices is wrong and very selfish on the speculators part.

We don’t need over $100 a barrel oil to provide an incentive to explore and produce more oil. Since ‘The Trading Place’ is a place to trade oil and is near Chicago, Ill., I would like to urge people who have friends or relatives in that area to go to that location near their closing time. If the price of oil drops, then these people could pat the oil traders on the back, shout “hooray” and clap for them as they leave. When oil prices go up, these people should “boo” them and display signs that say “Stop being so selfish.” Another sign could say “Millions of people suffer so a few can make profit.”

— Wendell Martin

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