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Commodity Trading Discussion Forum

Re: Interesting

Posted By: DJnodak
Date: Saturday, 10 May 2008, at 11:03 p.m.

In Response To: Re: Interesting (Gian1)

Here is a past example of how that can be done Gian1. I am not saying that it is happening now, but that it certainly can be done!

The Commodity Futures Trading Commission said Wednesday that BP traders — with the consent of senior management — “purchased enormous quantities of propane to establish a dominant” position in the market and then withheld fuel in order to drive prices higher.

Details of the alleged scheme, compiled with help from internal company documents and recorded conversations, were outlined in a civil lawsuit the CFTC filed against BP Products North America Inc., a Warrenville, Ill.-based unit of London-based BP PLC.
BP denied any wrongdoing, but a former employee admitted taking part in a conspiracy and agreed to cooperate with criminal prosecutors.

http://www.msnbc.msn.com/id/13608828/
(sorry, but everytime I try to link a url, it says message posted & there is nothing there until I delete it.)

Have a great weekend
Later: DJ

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