You are right - the complete article is rather good. The excerpt makes the author look like a moron, on the other hand.
Another unintended consequence of government regulation, BTW - which is the only point the author seems to have missed (botique formulation effects on price).
I thought the title of the article throws off the real point but the info in the body of the article really is good.
BTW I wonder just how good those other speculative funds would hold together in today’s market if the investors knew how overvalued the crude market really is. The long term value of a barrel of crude was only recently raised to $60 bbl. What with newer technology and more fields being found some pretty smug folks could stand to loose big-time. Of course, the fed-gov would have no problem sticking us taxpayers up to bail them out.