Is Market Concentration to Blame for Record High Oil Prices?

Michael Giberson Robert McCullough, the “analyst known for his work with a Washington utility trying to prove that Enron manipulated power markets” (in the words of Newswatch: Energy), is back in the news with a report sure to appeal to the economically naive in Congress and elsewhere. In his report McCullough concludes, “All available evidence … More Is Market Concentration to Blame for Record High Oil Prices?More Is Market Concentration to Blame for Record High Oil Prices?

Is Market Concentration to Blame for Record High Oil Prices?

Michael Giberson Robert McCullough, the “analyst known for his work with a Washington utility trying to prove that Enron manipulated power markets” (in the words of Newswatch: Energy), is back in the news with a report sure to appeal to the economically naive in Congress and elsewhere. In his report McCullough concludes, “All available evidence … More Is Market Concentration to Blame for Record High Oil Prices?More Is Market Concentration to Blame for Record High Oil Prices?