[Nip]

I didn't see this in the article - another impact of “evil oil speculators” is that their actions encourages the development of new technologies and exploration.

Since the 1970s it has been well documented that there were capped oil fields all over the US because it wasn't economically viable using existing technologies to extract the crude. Under Carter several capped fields were reopened because they had become money makers, again.

Without “evil oil speculators” the oil boom would have been confined to the original Pennsylvanian fields of the late 19th century! Anyone want to discuss the differences between the 1890s and today?

[An.American.Expatriate]

I didn't see this in the article - another impact of “evil oil speculators” is that their actions encourages the development of new technologies and exploration.

Not sure I see the corelation here. Consumer demand / business demands (i.e. engine improvements) would seem to be the more logical "encouragers" of technical advancement & exploration. The speculator neither adds to, nor subtracts from either of those demands over the long term, and whether the speculator is betting on rising or falling prices would not seem, on the surface anyway, to encourage investment on the part of the producer.

Can you provide some reasoning?