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Article: Washington Petroleum and Heating Oil Dealers Mobilize for Lower Prices.
- Article from:
- Business Wire
- Article date:
- May 29, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Washington Oil Marketers Association Targets Oil Speculators
SEATTLE -- The Washington Oil Marketers Association (WOMA) announced today that they are joining the Petroleum Marketers Association of America (PMAA) in a nationwide campaign to lower oil prices by tightening a loophole in commodities regulation that allows speculative oil traders to operate beyond the reach of federal oversight.
"The data conclusively shows that the dramatic escalation in oil prices has more to do with speculators than physical supply and demand issues," said Gerry Ramm, a senior executive of Inland Oil Co. in Ephrata, Washington and 2008 Treasurer of PMAA. "There is a ...