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Rise in Oil was caused by Manipulative Speculation »

Posted By _kam0_ 4 months ago in Business & Finance

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Earlier this year, the parabolic rise of oil had once again shown just how penguin-like analysts can be. The news was filled with "pundits" predicting prices to go to $150, $175 and even $200 by the end of the summer. All were based on the theory that China and other emerging markets were outstripping supply and the unrelenting demand will last indefinitely. The idea that speculation was driving prices was buried under the loud roar of obfuscating supply/demand conversations that were taking place in print, radio, TV and podcasts.