Freedom of the press is guaranteed only to those who own one
WikiLeaks: Saudis Often Warned U.S. About Oil Speculators
Further evidence of the vacuity of the ‘war for oil’ argument. Much of the price for oil is today determined in the derivatives market by Wall Street speculators rather than by producers or suppliers. The underlying commodity usually has a minimum impact on the actual price. But the Commodity Futures Trading Commission will not investigate this for the same reason why it was prevented from investigating the banks. Because Wall Street owns the executive branch. (Don’t miss the excellent Inside Job and this post by Pat Lang).
Kevin Hall: The Saudis have been saying for years something should be done to curb the influence of banks that are speculating on the price of oil.
I am a Lecturer in Digital Journalism at the University of Stirling and a former research fellow at the University of Denver’s Center for Middle East Studies. I am the author of The Road to Iraq: The Making of a Neoconservative War (Edinburgh University Press, 2014). I write for The Observer, The Nation, The Daily Beast, Los Angeles Review of Books, The Atlantic, The New Republic, Al Jazeera, Dissent, The National, VICE News, Huffington Post, In These Times, Le Monde Diplomatique, Die Tageszeitung (TAZ), Adbusters, Guernica, London Review of Books (Blog), The New Arab, Bella Caledonia, Asia Times, IPS News, Medium, Political Insight, The Drouth, Canadian Dimension, Tanqeed, Variant, etc. I have appeared as an on-air analyst on Al Jazeera, the BBC, TRT World, RAI TV, Radio Open Source with Christopher Lydon, Alternative Radio with David Barsamian and several Pacifica Radio channels.
View all posts by Idrees Ahmad