Originally Posted by
weirdbiz
So is yours, I'm quite sure.
First of all, that's not a study, that's a Fortune magazine article. The guy also CLEARLY has a political agenda, which you're against, and contradicts himself blatantly when he states that without speculators, people would be "decrying $200 oil instead of $135 oil" directly after saying that speculators have no effect.
And yes, the study here does credit speculators with driving the price down.
I'm absolutely positive that neither you nor I know for sure either way what the reality is, that's why I posted the link... as another bit to be considered. If you already have full possession of the absolute truth on all issues, then maybe you should wake up.
That is funny, did you look at the authors of the "study"-it is a hedge fund group that lost money while trying to evade US taxation offshore. I'm sure that will get you the truth.
Masters Capital Mgmt, LLC: Private Company Information - BusinessWeek
Only about 25% of oil is used by the US, do those who propose unfounded laws somehow believe they can also control all speculation outside the US? The US cannot control the price of even one commodity on the world market and some still cling to the hope the government can control the economy.
I will try to be gentle since your point of view is driven by state monopoly schooling, but to cite a source without any documentation or direct attribution is not exactly
a sterling example of critical thinking.
I will take the word of a pit trader long before a cooked "study" by the losers on the wrong side of a trade any day.
I believe the current parlance is "Who is your daddy now?"