The Function of Commodity Speculation by Dr. George Reisman
In recent posts, I have discussed the ridiculous argument that commodity "speculation" is to blame for higher oil prices. No better argument refuting this claim can be found than the one offered in Chapter 6, Part A.3 (p.191-192) of Capitalism: A Treatise on Economics by Dr. George Reisman. A fully downloadable and searchable version of the book appears on the author's site and can be downloaded by clicking this link.
(You will need Adobe Acrobat Reader. It will allow you to go directly to the pages referenced above.)
Further links to the work of Dr. Reisman can be found at: