A little story I missed while on holidays.
The question as always remains if speculators were responsible for driving up the price of oil, who is responsible for driving down the price of oil?
It's always interesting to watch governments and people reaction to economics they don't like. Crude oil goes up in price, we don't like that so let's blame someone.
Crude oil goes down in price, we like that, so it's just normal supply and demand economics.
"A preliminary study by a federal task force concluded that the rise in oil prices over the last five years was “largely due” to rising demand for oil, rather than speculation."
Click on the read more icon for the full NY times story.
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