AubreyJ’s Energy Update Report - Friday, May 30, 2008

AubreyJ’s Energy Update Report
Commodity Futures Trading Commission (CFTC) Investigates Speculation Claims into Crude Oil Market
Friday, May 30, 2008

* The Street.com website brings us this report and it starts off like this... The Commodity Futures Trading Commission said Thursday that it started an investigation into the crude oil market in December in order to determine if prices have been manipulated... The CFTC said its enforcement division launched the probe into practices surrounding the purchase, transportation, storage and trading of crude oil and related derivative contracts. Although the enforcement investigations are typically carried out confidentially, the CFTC said it was disclosing the review because of the "unprecedented market conditions" in the oil arena...
Read the full report HERE

* ClusterStock.com has this take on the news... Speculators have become the popular scapegoat for the recent surge in oil prices, and they've finally begun to attract some serious scrutiny from the Commodities Futures Trading Commission (CFTC). The WSJ reports that the CFTC has launched "a broad nationwide probe" into price manipulation...
Read this report in full HERE

* KATC.com website has this report out from Louisiana... A ban on oil and gas drilling near interstate highways in Louisiana will continue for another month, Louisiana Commissioner of Conservation James Welsh decided Thursday... The drilling restriction within a quarter mile of an interstate was prompted by a November gas well blowout that shut down a 55 mile-stretch of Interstate 10 between Lafayette and Baton Rouge during the busy holiday traffic season...
Read the rest at link below...
Ban on oil and gas drilling near interstates extended

* GoDanRiver.com website has this report...
Myrick urges drilling for oil off North Carolina coast

* Yahoo! News website reports...
Offshore drilling has become the last frontier in the exploration for new oil and natural gas reserves...
Demand For Deep-Water Drilling Rigs In Faraway Places Stays Hot

* CNNMoney.com reports in with their take... Oil executives and some lawmakers believe it's one of the only ways to help calm skyrocketing prices, but others say it takes us further away from a long term solution...
Drilling our way out of rising oil prices
Above link has an interesting News Video titled: Global Oil Reserves

Image credit: DoE

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AubreyJ.........