Transcripts and taped conversations of actions that took place in 2007, included in the commission’s case, reveal the secretive workings of high-frequency trading, a fast-growing Wall Street business that is suddenly drawing scrutiny in Washington. Critics say this high-speed form of computerized trading, which is used in a wide range of financial markets, enables its practitioners to profit at other investors’ expense.
The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.
Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris, which is charged with the task of assessing future energy supplies by OECD countries.
The chairman of the Commodity Futures Trading Commission signaled Tuesday that his agency is likely to limit financial speculators' ability to drive up prices for oil and other fuels.
Excessive speculation, suggested CFTC chief Gary Gensler, drove the price of oil to a record $147 a barrel a year ago, making it unnecessarily more expensive for Americans to heat their homes and fuel their cars.
According to an article in Ward's Auto (subs req'd), when Toyota puts its first production hydrogen fuel cell vehicle up for sale in 2015, the price will be so low it will "shock" the U.S. auto industry. Justin Ward, advanced powertrain program manager-Toyota Technical Center, said that economies of scale will be in place to drop the price down to something that is surprisingly low.
Live Broadcast: Wednesday, June 30th, 2008 - 8:00 PM ET.
While the establishment media tell you that 100-year-old auto companies do not have the brain power to design a car engine that dramatically improves fuel economy, Doug Pelmea went ahead and out-brained them all...or did he? Did Mr. Palmea invent some mysterious new energy technology or is he just the one person who wants the public to know that this kind of technology is not only possible, but is available now!
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