Een goede vriendin van me in de USA – Hazel Handerson – is voorzitter van Ethical Markets, een organisatie die zich o.a. inzet voor ethisch zaken doen. In een E-mail vertelde zij mij welke suggestie inmiddels zijn aangedragen om de oliecrisis te bezweren. Samengevat komt het erop neer : Verhoog de margin op de futures tot 50%.
Voor de volledigheid volgt de volledige tekst hieronder:
I wrote this editorial and sent it to IPS for syndication in early June. The story has broken in mainstream media and in hearings in the US Congress Energy and Commerce Committee and the Joint Economic Committee of the House and Senate. Most expert testimony from independent financial players agrees with my analysis and recommendations.
These witnesses estimate that if the Commodities Future Trading Commission (CFTC) were to implement 50% margin requirements, full disclosure of hedge funds and the volume of “paper barrels” versus real barrels of oil and the huge institutional investor positions in the oil and commodities futures markets and other recommendations, then the price of oil would drop to somewhere between $70-100 per barrel within 30 days. They expect that US gasoline prices would drop in a similar time period by roughly the same percentage. They agree that curbing speculation is urgent, whereas drilling in the US for more supply would produce a small fraction of the reduction that could be achieved by curbing speculation.
I believe that Peak Oil is still looming, as well as that control of 77% of oil reserves is by national governments; but I agree also with the growing expert opinion that the speculative bubble in oil can be addressed and is the best way to reduce oil prices. It is also necessary to keep US gasoline prices at current levels which are more realistic and nearer to global prices of $7-10 a gallon. I have editorialized since the mid-1980s on the need for green tax-shifting (to lower taxes on incomes and payrolls and shift tax to waste, pollution and depletion) which can help the transition to energy-efficiency, solar, wind, ocean and geothermal sources.
This article is also available at www.ethicalmarkets.com.