Stop trading it on the "futures" market in London is the solution to lower oil prices........
------------------http://www.larouchepac.com/news/2008/03/12/larouche-why-youre-paying-4-gasoline.html
March 12, 2008 (LPAC)--As the dollar dramatically collapsed below $1.55/euro today following the Federal Reserve's announcement of a huge new bank bailout, the "spot price" of a barrel of oil settled at just under $110, up 60% in six months, 25% in six weeks, and accelerating. The world's leading physical economist, Lyndon LaRouche, bluntly stated what is going on.
LaRouche noted that the current gasoline price is heading for $4/gallon; but the Saudis, on long-term supply contracts, get only $3 per barrel for their oil at the wellhead. Americans are paying more per gallon for gasoline at the pump, than the Saudis receive in long-term contracts per 42-gallon barrel of oil at the wellhead.
Why? The "spot" futures price of oil, and the value of the dollar, is controlled by the British. This was launched, LaRouche said, with Richard Nixon's treason against the U.S. for the British Empire. When Nixon destroyed the Bretton Woods System in 1971-73, the British were left in control of the growing masses of overseas dollar deposits, called "eurodollars." In the phony oil crises of 1974 and 1979, long-term fixed-price oil contracts, frequently for 24-36 months, were replaced with spot markets, and then with futures markets, controlled from London. Thanks to the Nixon Administration, the British Empire controls oil, and they run the dollar through the oil speculative markets.
The London International Petroleum Exchange (IPE) controls the price of 60% of world oil, by controlling the price of Brent Crude oil, which is less than one-half percent of the oil produced. On May 14, 2004, Brent Crude contracts on the IPE reached 375 million barrels,-- about five times the daily production of all sorts of oil worldwide. The huge masses of "paper oil" traded on futures markets control the price of the far smaller volumes of real oil.
On the London IPE, a speculator can buy an oil futures contract by putting up only 3.8% of the price. A tiny group of London-based speculators control the price of all oil worldwide.
"That's why you're about to pay $4 for a gallon of gasoline," LaRouche said. "If you want to blame somebody, blame Nixon and George Shultz for destroying Franklin Roosevelt's Bretton Woods system, and giving control of the dollar to the City of London."