Cramer is absolutely correct.......and that is a Shame.....for $10 Mil. too cause all the Worry, is rediculous ,and again the Consumer got SCREWED....Some How America needs too wake up and Have Cheaters put in jail cleaning up Madoff's room....

It is a farce. That's why the futures market should be outlawed. It has little to do with supply and demand and much to do with manipulation.

And not just the oil market.

Cramer is 100% RIGHT!

The big thing is what Harley said: IT'S NOT JUST THE OIL MARKETS!!!!!

unfortunately the market was rigged worse when inside trading was rampant. They could stop this by raising the margin to 50% and trowing sun shine on what hedge fund is doing this traitorous act.

If it is so rigged why are people not in jail? Cramer is an IDIOT anyway.

Plain and simple. SEC needs to handcuff all oil trader speculators. I know. I own 1800 shares of the stuff. You cannot accurately buy and sell anything in this puffed up environment. Its a real mess. And a real problemo. SEC needs to get the lead out and take a stand. Confidence is gone. Gone gone gone.

Cramer your title to your blog sounds like your talking about the CEO of GE, or CNBC?

Jim, you have hit the nail on the head. I am in the oil and gas industry and have been for over 25 years. There have been two major spikes, but 3 major downturns. People not in the business can't understand what it does to the industry itself. The corruption in traders on all markets of the world have come close to ruining our world economy. MONEY IS THE ROOT OF ALL EVIL, it is sad.

A barrel of oil was traded 27 times before it got to the consumer.

Wow. say it like it is. You might add the oil companies are in the game too, so they can manipulate price. And the fact that the big 5 produce 48% or the crude and refine 60% of the gasoline means they can control price at the pump, which means, they are a monopoly. Congress has had hearings on this, but due to the large amount of money funneled by the big 5 into campaign contributions to Congressmen, willing to take the money, nothing will change, until we change too public funded campaigns. Moreover other issues like , illegal immigration, jobs going to China, etc. will not be solved either.

The consequences of Phil Gramm’s deregulation, are that the hedge fund investors in commodities are driving up costs for gas, food and weaken the stock market. But yet that’s what the free marketers, like Krudlow, all laud about in this world and all the Republicans sound like a broken record on Cspan, 123 drill. If we're in tuff shape, just think how the third world countries are doing. When you’re whole economy is affected by a few investors, that aren’t adding any value to the market, but are gambling that it will go up by the mere fact the more money they put in, creates a bubble; and something must be done by our leaders before it tanks the economy. Another deregulation debacle created by the neocons just like the sub-prime mess. Cspan.org, Energy Market Manipulation, JUNE 8,2008 for energy speculation.

Taking on Big Oil & the SEC, could be your calling Jim !

The scams being pulled on American public is huge.

what u see and know, can expose light on these sloths hiding under the rocks of Wall Street !

I believe your purpose has been changed, and u r now on the road in front of u.


hell i like john.s a lot, but he does not have your mind or
true intentions.

Jim, you're spot on mate. Nothing to add because you've said it all and perfectly.

Jim, A fellow that has a spare 10 mil. to play in the oil futures market, Doesn't give a damn about the price of gas on thre retail end or if it hurts the economy, he just made another 10% for his trouble..Capitolist bastard....

The so-called “Dark Markets” – commodities markets that are not policed by U.S. authorities provide for an open the door to manipulation, even outright control of the markets.

For example, speculative investors can buy and sell millions of barrels of U.S. destined oil and other energy products every day in the United Kingdom and even in Dubai… but are not made subject to the transparency and accountability laws that govern exchanges here in the United States! Go to cspan.org and put in Energy Market Manipulation on June 8 and get the truth.

Additionally, through the so-called “swaps loophole,” financial investors can “game the markets” for pure profit by buying up positions in the energy markets, without any limitation on the size of the positions they can take. One recent estimate suggested that they now control one third of the commodities markets, or $150 billion - a 1,000% increase in less than five years! Go to cspan.org and put in Energy Market Manipulation on June 8 and get the truth.

Some experts believe that as much as 60 percent of the cost of a gallon of gasoline or heating oil can be attributed to pure speculation and abusive –even manipulative – trading practices, yet most trading is “dark” and federal authorities can neither fully police or see the data in the majority of the trading markets.

The energy trading markets were originally set up to provide energy producers and distributors with an environment to manage risk and produce the best possible price for their customers. But they are clearly no longer the driving force in the market. Profiteering speculators and investment banks care little about establishing a price for energy based on supply and demand

jim cramer, did you just found out that crude oil has been manipulated for awhile. Just try to figure out how in the world the price of oil drop from $147 to $32 in a few months. It rise to $70 is a total farce. It will take a long while before the economy starts to pick up and the rise in price of oil take effect. Up to now, just look at the California highway, we are experiencing hardly any traffic and the national unemployment keep on rising. Maybe you should take drive here in California and you will see for yourself how the oil price can be justified at $70. The unemployment keep on rising and not even $35 per barrel is warranted. If the price of oil remains in the $60's there will be more unemployment coming. We'll get stock until this trader realize that those $60s is not real and will stall the economy for years to come.

Right now the only direction is down because of the BUSH policies that have not been changed and the Refusal of OBAMA and CONGRESS to pass the real laws that will help the economy!! First all ILLEGALS must be deported right now! They are taking an estimated 10 MILLION jobs that should be for out of work American citizens. They lower wages for all working people and their children cost billions in welfare and education. This step alone might bring the economy back!! This does not include the murders, rapes, kidnapping and other crimes they commit. Second we must get Rid of the BIG BANK owned FED and put a elected regulatory board in charge of the Banks and financial sectors. This would include strong regulations or elimination of hedge funds and the futures markets!! This would include new credit card and credit rules which fix late charges to $15 plus interest, keep all present balances at the same rates and make manditory a 30 day grace period to stop the mail the statement late scams card companies use (just look for a postmark their is none). Finally get of of the Middle East right now and go alternative energy right now! The government was talking about giving Tesla motors some money JUST DO IT since electric cars can be on the road in one to 2 years!! BIG OIL runs our lives along with the Banks and it's time our supposed representitives stopped this NOW!

Along with oil price.........you can't have any jobs growth, if they continue to leave the country. As long as the wealthy investor class and multinational corporations want global economic growth, America will continue its slide into the third world melting pot. It started with China getting most favored nation status and the World Trade Organization. China, South Korea, and Japan ignore the rules of trade to the detriment of American workers and national companies.

Those F*CKING CFTC are all crooks and "UNTRUSTWORTHY!!!" They knew these F*CKING illegal corruption of activities was going on all the time. These pure 100% corruption of activities of manipulations was all inside jobs, they were bribed humongous $$$$ to play the blind-eye investigations they claim they investigated!!! Like a corrupt scvmbag cop keeping quiet hiding its loots of tons of drugs he was given by the drug-lord for him to play the blind eye!!! Bunch of SCVMS!!!! And guess what, the BILLION$$$ earned was also used to manipulate the price up in act called "SCHILLING" bunch of oil-stock owners bidding on their own creating ROUGE TRADING designed only one thing to manipulate the market and drive price sky high!!! It happens all the time at eBay!!! Where its seller and his friends bidding on their own items to manipulate and jack the bidding up!!! Its very simple malicious method using multiple accounts, scheduled phone calls and a click of a mouse button!!! SCVM!!! Bunch of SCVMS!!!!

jim cramer, maybe someone will listen to you that matters because it is going to ruin this country worse than it already is. I have traded commodities for 21 years and since this electronic phenom has started the crooks are out in full force in every commodity not just oil!!!!!!!! If the goldmans and so called traders alike were to trade with really having to think about it they wouldn't make a dime!!!!!