No, Speculation Does Not Explain Oil Prices

Michael Giberson Sebastian Mallaby provides a clear exposition of what might be considered the mainstream economics story of why “speculation” is not to blame for the current high level of oil prices. [A] speculator can buy paper oil only if someone else sells to him. For every trader who bets on a price rise, there … More No, Speculation Does Not Explain Oil PricesMore No, Speculation Does Not Explain Oil Prices