What a joke. As people struggle to pay their bills and put food on their table we allow rich individuals and university endowments to buy oil futures, adding to upward price pressures. Meanwhile, nothing is done. Then, when people demand to know why this is happening, they are given bogus excuses about China and not allowing offshore drilling.
"A range of investors were in the market, too. Yale University, Singapore's government, hedge funds Brevan Howard and D.E. Shaw & Co., as well as pension funds for Texas teachers and Danish workers all held positions, according to the list.
Also featured were a handful of individuals, including Aubrey McClendon, chief executive of Chesapeake Energy Corp. (CHK - News), one of the nation's largest producers of natural gas. Cascade Investment LLC, the investment arm for Microsoft Corp. (MSFT - News) co-founder Bill Gates, appeared."