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Ruminations on the Distortion of Oil Prices and Crony Capitalism: Selected Writings Hardcover – July 8, 2013

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Editorial Reviews


In this fiery collections of blog posts, veteran commodities trader Learsy rails against the global oil-industry.  Oil prices he asserts are captive to the machinations of commodity speculators, investment banks, OPEC and petroleum heavyweights such as Russia. These entrenched interests can influence U.S. policy at the highest levels, he says, and distort prices for their own benefits. "We are robbed of billions of dollars every day by oil interests, in their manipulation of the market pricing mechanisms, at massive cost and risk to the world's economy." - Kirkus Indie Review

From the Author

Much is written with a touch of what I consider rightful anger. Anger that rises from my years of experience in the commodities trading field. I have written extensively on these issues and witnessed the distortions brought about by the transmutation of trading in physical commodities to trading in commodity future derivatives on the Commodities Exchanges (what I have termed "paper barrels"). Together with the malign impact of lobbying by both the powerful oil industry and Wall Street, all this has distorted government policy, crippling Main Street in the process.

I believe that a knowledgeable consumer is a powerful consumer, and these collected writings are meant to contribute to that knowledge.

More About the Author

Raymond J. Learsy, a graduate of Wharton School of Business, launched into the fast-paced, risk-filled world of commodities trading beginning five decades ago.

In 1963, he started his own firm and over the course of 20 years expanded from the United States into Canada, the United Kingdom, Europe and Asia, trading in bulk raw materials and commodities. During the Reagan administration he served as a Presidential appointee to the National Council of the National Endowment for the Arts.

Learsy's analysis of the international oil trade, OPEC, and its impact on the American and world economies has been featured in the National Review Online, the New York Times, the Pipeline and Gas Journal, CNBC and NPR, and as a regular contributor to The Huffington Post. His two previous books on oil received favorable reviews, Over A Barrel (2005) and Oil and Finance: The Epic Corruption 2006-2010 (2011).

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