Everything is speculation. Speculators gonna speculate, as they should.
Pigs get fat.
Hogs get slaughtered.
Enter financial speculation. Commercial end-users of oil such as airlines and trucking companies who once dominated 70 percent of the market for market for future deliveries of oil now represent just 30 percent. Non-commercial financial speculators now dominate 70 percent of the market. The trading is dominated by Wall Street banks, hedge funds and other financial institutions that have no intention to take delivery of the oil needed to make gasoline.
You could go and speculate on septic tanks, fancy cancer drugs, and even car batteries. There’s no limit to it. The best speculation of all time? When the inside guys of 1928 got the DOW all heated up, and in 1929....walked out to sell and destroyed Wall Street in just a couple of hours. They made millions.