I doubt this take, below …China’s Xi would probably have berated Trump over the unneeded violence in Iran that drove China’s energy costs higher.
One-source News/propaganda seems designed to boost crude-oil prices further at a time of low demand. Bloomberg falls for it or is part of a sophisticated manipulation scheme.
Notice how they don’t put a real person on the byline?
Notes and charts. See CFTC powers, below.
I was fired by Bloomberg in 2020 after whistleblowing about its bad energy/climate news coverage ~2010-2020.
Can CFTC investigate media outlets?
Gemini unchecked:
The short answer is yes, but only under a very specific and high legal bar. The CFTC (Commodity Futures Trading Commission) has the authority to investigate media outlets if their reporting is not just “biased,” but constitutes intentional market manipulation or the knowing delivery of false information.
The CFTC generally avoids policing “bias” or “opinion” due to First Amendment protections, but it can act if a media entity crosses the line into fraud.
What the chart shows.
The Bloomberg story was published at 10.07am. London time.
In the following 20 minutes the price rose to about $106.50 a barrel from about $106.25.
Not a huge move. True. Yet Bloomberg prides itself on market influence.
1. The Legal “How”: Statutory Authority
The CFTC derives its power to investigate “false reports” from the Commodity Exchange Act (CEA). Specifically:
• Section 9(a)(2) of the CEA: It is a felony to knowingly deliver (or cause to be delivered) false, misleading, or knowingly inaccurate reports concerning crop or market information that affects the price of any commodity in interstate commerce.
• Rule 180.1 (Anti-Manipulation): This broad “catch-all” rule prohibits any person from using a “manipulative or deceptive device” in connection with a contract of sale for a commodity. If a media outlet intentionally publishes a fake story to drive a price up or down for profit (a “pump and dump” scheme), they fall under this rule.
2. The Investigation Process
If the CFTC suspects a media outlet has shifted prices through fraudulent reporting, the process typically follows these steps:
3. The “First Amendment” Barrier
The biggest hurdle for the CFTC is the US Constitution. Courts have historically protected the “Impersonal Press.”
• The Publisher’s Exception: Under cases like Lowe v. SEC, if a publication is “bona fide” and has “regular and paid circulation,” it is generally exempt from being regulated as an investment adviser.
• Opinion vs. Fact: “Biased reporting” (e.g., a news anchor arguing that oil prices should be lower) is protected speech. The CFTC only has jurisdiction if the report contains verifiable factual falsehoods (e.g., “A fire just destroyed the world’s largest silver mine” when no such fire occurred).
Summary: The “Bias” Trap
The CFTC cannot investigate a media outlet simply for being “biased” against a certain industry or commodity. Bias is a matter of editorial judgment.
They can only investigate if the bias manifests as intentional fraud or market manipulation designed to create “artificial prices.”
Without proof of a “deceptive device” or a “knowing falsehood,” the First Amendment effectively shields the media from CFTC interference.
CarrZee: This shield might be too strong and probably should be adjusted … because of corporate press bias and propaganda, climate collapse
Bloomberg has manipulative history
Buyer Beware: Commodity Indexes Lock In Dire Climate Status Quo (7)
https://carrzee.org/2021/08/02/buyer-beware-commodity-indexes-lock-in-dire-climate-status-quo/