5 chapters across the catalog
Oil prices have dropped below $50 a barrel, leading trading companies to store excess supply in "tank farms" in hopes of a future price increase. The hosts explain that many oil companies are still profitable because they "hedged" their production with futures contracts at higher prices last year. They predict a further price crash once these hedges expire in the summer and storage capacity is fully exhausted.
Al Gore is identified as an investor in a massive cap-and-trade fund, benefiting from the market exchanges he helped catalyze. The hosts describe the Intercontinental Exchange (ICE) as a "dark pool" owned by major banks like Goldman Sachs and Morgan Stanley to trade oil futures. They characterize the system as a circular trading scam designed to artificially inflate oil prices.
The hosts predict that oil speculators may push prices to a psychological barrier of $200 per barrel before a massive market correction occurs. Such a crash could lead to a surge in the US dollar and influence the 2008 presidential election in favor of John McCain. The show concludes with a mention of an upcoming speaking engagement in Michigan regarding the future of the newspaper industry.
Oil Prices, Futures Trading, and Currency Devaluation
Crude oil prices reaching $126 a barrel are attributed to speculative futures trading rather than supply issues, with predictions that costs could hit $200. The weakening US dollar has created a market where European tourists can purchase imported goods in America for significantly less than in their home countries.
Free Market Deregulation, Oil Futures, and George Soros
The debate over free-market deregulation continues as oil prices are driven up by futures traders and speculators. Predictions are made that oil could reach $200 per barrel before a massive collapse due to falling demand. George Soros is mentioned for his recent losses on Bear Stearns stock despite his public support for the government bailout.
