“Up until a few years ago, oil speculation wasn’t really a problem: Crude oil futures could only be bought and sold on the NYMEX, where they were regulated by the Commodity Futures and Trading Commission (CFTC), a government organization that was created in 1974 to — you guessed it — protect the market against speculators. For decades, the CFTC did its job well, watching over sales of oil futures and ensuring that investors didn’t drive up prices to make a profit at the expense of consumers. But in 2000, everything changed.”