Who thinks the oil companies are buying their own futures?

I made a statistical model which essentially proved human intervention over the time period of Cheney's meeting with the oil execs in 2002 and a few months prior to the election in 2006. Now that the election is over, the model is precisely back on track. My broker Assured me that Exxon/Mobil does in fact have enough money to rig the market. He said it might not even be illegal!! When they get stuck holding their own over-inflated contracts, it's OK. They just deliver the oil to themselves. It's the perfect scheme!!Who thinks the oil companies are buying their own futures?
The markets, especially institutional %26amp; futures are totally manipulated by large institutions. They can simply buy and sell mostly from each other. I was a licensed futures institutional trading asst some years ago. The auditors are clueless about futures. We bought %26amp; sold huge contracts %26amp; wired huge amounts of money out of the country. They have really cracked down on ID for little old ladies as well as flagging ';unusual'; deposits she might make)later on I was securities licensed too)-but the big boys continue unfettered. The scenario you described is called ';Hedging'; and is completely legal. The SEC may investigate now %26amp; then but it's too complicated for them. But the markets are manipulated daily. Remember the stock market crash of 1987? The second day, the markets went down sharply again but around 1 pm, large institutions cames in %26amp; bought S%26amp;P futures contracts and the market finished up. Also, I know about hedging techniques and much of the time they are not really hedges but using fuzzy accounting %26amp; double bookkeeping that the auditors don't understand. Also, when the auditors do ask questions, they quickly back off because they hate to admit they're clueless. The oil companies know exactly what they're doing. In the 80s, when people started complaining too much %26amp; they held prices while encouraging an addiction to oil. Right before prices rose this last time, there were the large SUV credits. Like anything in the US, people get used to larger vehicles and can't imagine going backwards. Guess this is all a sore point with me. I know how it works and don't see it changing. The little guys mostly lose in futures because it's controlled by the big guys.Who thinks the oil companies are buying their own futures?
What can be done to stop exxon mobile from manipulating the market. The thinking is that we are helpless. Wayne Report Abuse

Show your model.





Buy the stock, it more than offsets the price of fuel.
Oil companies are scum, not only are they ripping people off, forcing our involvement in Middle Eastern conflicts and they are destroying our planet in the process. By pressuring politicos to dismiss the facts about global warming and the effects it's having on our world already. The island of Tuvalu is disappearing, in 2005 Greenland had a peninsula turned into an island. Why do people turn there backs on this problem for their children to inherit, it's irresponsible and immoral. Why run an uncontrolled experiment on the only home we have?