Wouldn't speculation be entirely about supply and demand? The speculators are bidding up futures in anticipation that supply will be affected, and that demand will remain constant.
Wouldn't speculation be entirely about supply and demand?
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Supposed to be. Even Steve Forbes has said that the market is wildly out of control and not responding to fundamentals.
We are paying for emergency level oil when demand is decreasing. We are at the point that if someone sneezes, oil goes up four to five dollars a barrel.
Rita has not even hit yet and with demand going down shouldnt prices be going down? Yes, they should - but they are not.
I hope the speculators will be happy when our economy is in shambles because of their irresponsibility.