The increase in demand from interest speculators is almost equal to the increase in demand from China. The world's biggest consumer of energy is cutting back.

to read Mike Whitney's article published May 30, 2008 on http://globalresearch.ca, click on

http://www.globalresearch.ca/PrintArticle.php?articleId=9138

Today on C-SPAN there were Senate hearings about the rising price of oil, and several expert witnesses, George Soros, Mark Cooper and others testified before Senate members that three factors contribute to rising oil costs; increasing demand and decreasing supply (creeping peak oil), price fixing by OPEC & petroleum corporations AND energy futures speculation by ENRON-esque corporations that continue to benefit from deregulation of speculation on future energy markets, aka the "ENRON loopholes". The easiest factor to reduce the ransom price of oil by at least 1/3 of current prices is to regulate energy futures speculation and close the ENRON loopholes..

http://www.truveo.com/Senate-Judiciary-Cmte-hearing-on-Rising-Crude-Oil/id/817779224

As a long term bicycle rider i continue to boicott petroleum consumption daily as directly as possible (DO NOT PAY at the pump! : )), though certain food items are increasingly expensive due to the fuel to farm costs of transport. Therefore it is also in my best interest to reduce this unfair ransom on the rising prices of oil by removing the Enron loopholes that enable corporations to continue deregulated energy speculations on future markets and additionally drive up the price of oil..

The expert witnesses at the Senate hearing assured people that this deregulation loophole aspect of the oil price can be solved quickly, and is far easier to stabilize than the real physical concerns of increasing supply and decreasing demand..

In addition, the paid petroleum lobbyist known as "Jess Drillmore" is uninvited to public forum debates in FL and elsewhere. We first need to solve regulating energy future speculations & price fixing by petroleum corporations, and also reduce our demand on petroleum consumption simultaneously..

Note; This Senate hearing did not address the related issue of climate change that results from release of excess CO2 and other pollutants from fossil fuels into the atmosphere..

This is another good reason to reduce petroleum consumption, either that or encourage residents of Miami, New Orleans and other coastal towns to invest in rafts, rowboats and life jackets, cuz the sea she'll be a risin'up to meetcha..

An interesting energy future to be locally regulated by each community is in harnessing of biomethane from food, animal and human waste. All decomposing biomatter releases natural gas and can be effectively trapped and harnessed as energy by each and every local community, thus ensuring our future energy stability without interference from profit driven multinational corporations..

"Bio-Methane from Sewage Sludge to Be Used as Bus Fuel"

Wednesday, May 17, 2006 Posted: 11:25 AM JST

"Kobe City in western Japan has decided during fiscal 2006 to prepare for the practical use of bio-methane gas as a fuel for natural gas vehicles. The gas is produced by purifying the gases generated from sewage sludge. This is the first attempt of its kind in Japan.

The new bio-gas was developed jointly by the city and Kobelco Eco-Solutions Co., a subsidiary of Kobe Steel. They started verification tests in October 2004 using a purification system installed at the Higashinada Sewage Treatment Plant. They successfully produced methane gas at 98 percent purity, the same level as city gas, by applying high pressure to the gas generated by microorganisms decomposing sewage sledge, and dissolving impurities such as CO2 and hydrogen sulfide, which make up 40 percent of the gas, in water. In 2005, they began to use this gas to run natural-gas-fueled city buses on a trial basis."

article cont's @;

http://www.ikjeld.com/japannews/00000319.php

Regulate?!!

By the people? Heresy.

Someone must be offered in a sacrifce in public immolation for even questioning the looting. You! The author!

Sieze that person!

This is our government and you aren't invited. Don't even think about it.

We rule, you obey.

Sincerely,

The Ruling Class.