Perhaps 60% of today’s oil price is pure speculation
June 9, 2008
“The price of crude oil today is not made according to any traditional relation of supply to demand. It
’s controlled by an elaborate financial market system as well as by the four major Anglo-American oil companies. As much as 60% of today’s crude oil price is pure speculation driven by large trader banks and hedge funds. ”
Wow this is crazy. So pretty much like the housing bubble we are getting screwed over by greedy hedge fund operators? I say screw them. Lets regulate their ass!
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