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Wednesday, December 17, 2008

Where are the Evil Speculators?

Crude oil is now trading at $40 per barrel, but weren’t we told that the unrelenting greed of speculators and Big Oil were to blame for higher oil prices? What happened to the Congressional show trials of Big Oil executives by Big Government inquisitors and the calls for more regulation of speculators and windfall profit taxes on oil companies? How can prices go down and why don’t speculators just make prices go up again? What was the result of the various “investigations” undertaken by government committees? What happened? If speculators have "caused" prices to go down, should Congress give them an award?

1 comment:

mobil'homme said...

Obviously, the speculators and the short sellers had a street fight and the short sellers won.

(Prior to the election, I actually heard people refer to low gas prices as "election pricing." I.e., the evil oil companies lowered their prices in order to get McCain elected.)