Sunday, July 13, 2008

CNN Money's take on oil speculation

CNN Money on oil speculation:
There's no question money from investment banks, pension funds, hedge funds and others that don't ultimately use oil has been pouring into oil markets over the last few years.

But whether they are chasing a trend — and actually helping keep prices lower by adding liquidity — or driving up prices in their own right is a matter of debate. So far, most experts say speculators are not to blame for the high prices, but many of them agree that the system is very opaque.

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