U.S. Asks the U.K. to Set Limits on Oil Speculation
June 13, 2008; Page C7
WASHINGTON — The U.S. energy-futures watchdog is requesting that its United Kingdom peer set limits on speculative trading of front-month West Texas crude contracts on ICE Futures Europe, a unit of the Intercontinental Exchange, two people close to the matter said Thursday.
The Commodity Futures Trading Commission has been under increasing pressure by Congress to rein in speculation in the markets, which many believe has contributed to record-high oil and gasoline prices.
Many analysts and energy economists — including U.S Treasury Secretary Henry Paulson — continue to argue that a tight market, fears of geopolitical events that could disrupt supplies and a weak dollar are the primary factors.
The CFTC two weeks ago agreed with the U.K.’s Financial Services Authority that the U.S. agency would be notified when speculation levels similar to those set by the New York Mercantile Exchange were reached on ICE Europe.
While Nymex operates as a U.S.-regulated market, ICE Europe operates as a foreign exchange with trading terminals in the U.S. and is exempt from U.S. rules on reporting and speculation limits.
One person close to the matter was unsure if an actual agreement on setting levels had been set. Another said that even if the FSA and ICE Europe had agreed to the setting of limits on the front-month contracts, the FSA still isn’t sure who is doing the trading.
Write to Ian Talley at [email protected]
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
