CME Group Inc. (NASDAQ: CME) owns and operates large derivatives and futures exchanges in Chicago and New York City, as well as online trading platforms. In addition, it owns the Dow Jones stock and financial indexes. The contracts its exchanges trade include futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, rare and precious metals, weather and real estate.
Yet it states on their CME Group inc. Conflict of Interest link , that CME, CBOT and NYMEX are Delaware corporations and are subject to the laws of that state with respect to a director’s fiduciary duties, including the duty of loyalty.
We get less than 2% of our oil from Libya.
Their is no gas shortage.
So why is President Obama allowing us to be Gouged?
The Middle East at present hasn’t got thing one to do with our daily rising gas prices. These American Corporations are being allowed to rob us blind. There profits will be beyond Billions. Try Trillions
It can’t be Processing and Refinery Costs. They go up when there is a shortage of oil but at present there is no shortage.
It is The United States Of America that is allowing all this madness at our Gas Pumps. And in a heartbeat it could be stopped.
SO WHY ISN’T IT?
We knew Bush was in bed with American Oil Moguls and their Companies. Hell Bush Sr. owns his own lock, stock & barrel. And they were also in bed with WALL STREET.
But what is President Obama’s problem? Not one word on stopping this gouging on us here. Just empty worthless words.
I don’t give a F’ about Libya. I don’t care if they all kill each other. I don’t give a F’ if ALL OF THE MIDDLE EAST KILLS EACH OTHER.
If that were to happen it would bring total PEACE to the world.
What I do care about is why our President doesn’t jump in and put a stop to the price gouging that these Companies who are being allowed to set these kinds of outrageous prices at our Gas Stations. And who actually wheels and deals the oil?
New York Mercantile Exchange. You got it WALL STREET.
The New York Mercantile Exchange handles billions of dollars worth of energy products, metals, and other commodities being bought and sold on the trading floor and the overnight electronic trading computer systems for future delivery. The prices quoted for transactions on the exchange are the basis for prices that people pay for various commodities throughout the world.
The floor of the NYMEX is regulated by the Commodity Futures Trading Commission, an independent agency of the United States government. Each individual company that trades on the exchange must send its own independent brokers. Employees on the floor of the exchange represent a big corporation.
On the CFTC, it was created in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. the CFTC assures the economic utility of the futures markets by encouraging their competitiveness and efficiency, ensuring their integrity, protecting market participants against manipulation, abusive trading practices, and fraud, and ensuring the financial integrity of the clearing process. But from the outset, the CFTC has been plagued by limited budgets and manpower. In addition, it has faced numerous efforts by the Securities & Exchange Commission (SEC) to seize and take control without authority by force or without legal authority its regulatory jurisdiction.
But who bought out Both, NYMEX & COMEX? Chicago based CME Group signed a definitive agreement to acquire NYMEX Holdings, Inc. for $11.2 billion in cash and stock and the takeover was completed in August 2008. Both NYMEX and COMEX now operate as Designated Contract Markets (DCM) of the CME Group. The other two DCM’s in the CME Group are the Chicago Mercantile Exchange and the Chicago Board of Trade.
It isn’t the Middle East conflict and unrest that has Gas Prices soaring, it is AMERICAN GREED. And between the Oil Companies and Wall Street they are getting away with MURDER.
This is total Bullshit. Less than 2% of our oil comes from this friggin country at war with itself. And it has already been stated that THERE IS NO GAS SHORTAGE.
It is America’s Wall Street that will bring this Country Down AGAIN.
The Rich Conservative Republicans must be loving the President about now.
All I know is I don’t care what the price of oil is today or tomorrow. Wall Street/Chicago Street USA is being allowed to Rob Americans Blind.
PRESIDENT OBAMA STOP THIS GOUGING NOW AND STOP LOOKING CLUELESS. We Are Not.
Wall Street got in trouble and BUSH bailed them out, then Obama wrote the second check to complete their Bail Out.
Now they are STEALING US BLIND. They are setting the Price of the gas you’re paying for.
I say the USA citizens need to take to the streets like the Middle East.
Because it is our own companies and stock exchanges here who equal the dictators there and they are getting away with this Gas Pump Rip Off Bullshit of Americans.
Enough is Enough.
1960s DEMOCRATS, WHEN WE HAD BALLS. Just ask Dan Rather.
How much will Americans put up with? If you’re too afraid of taking to the streets then don’t bitch.
I am a 100% Moderate Democrat that’s not afraid to FIGHT. I Came From The 60s.
To me right is right and wrong is wrong and there is no in between.
President Obama… Stop The Gas Price Gouging of Americans.
Stop It Right Now.
America Get Some Balls.