That is a step back into the middle ages and barter. The whole point of capitalism is to allow the trading of goods and services on an equal and fair basis without having to take physical possession of the item traded.
You have a 401K or other retirement instrument? Do you want physical possession of your share of each company that you own? Where shall I put your 3/4 of a cow, your airplane wheel, your 0.8 acres of forest and your 20 barrels of crude??
The more we allow interference in free agency the more unfair it becomes.
The way to encourage freedom is by encouraging freedom. Anything else is the opposite.
The opposition to delisting oil and gasoline from commodities trading is increasingly a burr under my saddle.
Imagine if you will that someone bought all the milk in the country, and withheld it from sale. Suddenly, there would be far more demand than supply, meaning that milk would increase in value. The person would then fill orders, slowly, enough to ensure everyone got theirs, but at a price 2 to 3 times more than it was at previously.
What would you do in that situation? You'd either use soy milk, powdered milk, or swear it off altogether in favor of simple water.
What if someone bought all of the pork bellies in the country? Same scenario...you'd stop using that product. Insignificant lifestyle adjustment, but you're still able to get to work and pay the bills.
Coffee? Frozen Concentrated Orange Juice? Silver? Gold? Platinum? Steel?
You can dodge each of those bullets; none of those items are necessary for you to get to work or make money for your family - especially lower and middle class individuals.
What if someone bought all of the electricity production in the country, and did the same thing? By reducing supply, you essentially create artificial demand. Note that you can also effectively reduce supply by refusing to match production to increasing demand...even if you have the capacity to do so.
Well, some people tried that, and were sent to jail a very long time for artificially manipulating the market solely for their own profit - the livelihoods and well being of the citizens be damned. It was called Enron. It's criminal.
I'm not accusing "investors" - the greedy fucks that they are - of being criminals just because they moved money from stocks to this "commodity" called oil. I'm saying that oil is totally unlike every other commodity in the world, and it should only be sold to people who will use it or produce something with it - not horde it for the purposes of extortion.
Just because we have a lot of something and it's all the same, doesn't mean it's a commodity. Electricity isn't a commodity. Oxygen isn't a commodity. Water isn't a commodity. We need all of those things to live in this modern world. They are not options. We've urbanized ourselves beyond the capacity to live off of the land.
The fact of the matter is this - there are individuals and corporations with so much wealth, they could (at their whim) tie up any or all of the faux-commodities, the availability of which the world's economy is based. Insofar as the only thing preventing such a calamity is a vast, nearly unimaginable sum of money possessed by one entity, we as a nation have an unacceptable risk...a clear and present danger, if you will. Exxon's $40 Billion dollar PROFIT would buy a lot of water, electricity, milk....might even be enough to bribe/convince states to sell the rights to the air we breathe.
It's a very simple matter, with a very simple solution.