Wow! Can you believe this man’s audacity?
So this week, with the help of U.S. Rep. Bob Etheridge, a Lillington
Democrat, Congress will take on an obscure commodities market. Some oil
experts say congressional action could have an immediate impact.
What experts? What impact? Even if it had a short-term "impact" it could have longterm devastation. The paper admits futures markets are obscure–which is to say Etheridge doesn’t (nay can’t know enough about them to get Congress to meddle). Etheridge – certainly no expert, with no stake in oil futures – is going to save consumers money at the pump by futzing around with futures markets! Lord have mercy. Just when you thought you’d heard everything, we’ve got people who not only think that they can repeal the laws of supply and demand, but that they know better than investors who help increase supply by their diverse, extremely critical judgments about these complex markets and related supply sources. Haven’t they heard of short-selling? Again, I say wow.
Rep. Etheridge’s meddling would be as dumb or dumber than skimming oil profits. It would be akin to my going down Papua New Guinea to educate the locals on better hunting techniques. Somebody please tell the News & Observer.