Has anyone noticed that the price of gas has dropped for 24 consecutive days
? I’m sure you have as there has been a drop of 15 cents over the last two weeks. Strange, Congress takes a vacation from doing squat all season and oil prices drop rather nicely. Hmm, maybe it’s just a coincidence.
conspiracy theories regarding speculators
brought forth by progressives and liberal Democrats? Where are these capitalist vampires and why in the world would they let oil prices drop when there are riches to be had? Heck now is a good time to stick it to consumers since Congress is out of town. Why not ratchet the price up ever higher? Who is going to stop you, right? After all, the
Enron Loophole
is still in place and so are all the laws that sneaky Phil Gramm passed back in 2000 which, according to over active imaginations or political spinsters, are the mechanisms used by speculators to push crude oil prices higher and higher.
the laws of supply and demand,
a strengthening dollar
, and slowing economies in Europe and the U.S., have
proved the conspiracy theorists wrong
. What a surprise!
released the results of its interim investigation
into any fraud, wrongdoing, or market manipulation on 07/22/08. And the conclusions of the interim report, “found that fundamental supply and demand factors provide the best explanation for the recent crude oil price increases.” Imagine that.
1 comment:
Speculator. Another word for... risk taker!
"Heaven forbid we should allow someone to make a profit (by exercising ingenuity based on a costly education and hard won experience) from guessing correctly about the future direction of commodity prices.
I mean, they didn't earn it surely, and if they didn't by golly the law just better step in and protect those little flowers they are trading with from getting crushed."
The preceding fantasy was brought to you by someone who actually worked in the bond markets on Wall Street, using linear programming to develop algorithms to do just that.
I confess. I'm the guilty party.
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