Let's return to a central theme: that finite resources are being quantified by infinite money. Today the CFTC made some announcements regarding transparency in futures positions; also Congressional hearings began with intent to limit futures positions sizes , especially for energy speculators. Unfortunately, this 'speculation' issue is one of many red herrings that ignores the widening fundamental disconnect between financial and real assets. (PBS Nightly Business interviewed me on this topic -sound bite from 3:16-3:40). Below the fold is a brief summary of what I said in the longer interview followed by an open thread on the topic of the future of energy futures.

US lower 48 remaining recoverable oil** vs. US Treasury Debt