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Speculators is the main reason for the spike in oil prices.
Anyone doubting that need only look back to a few years ago when oil prices skyrocketed and then crashed.
Or look a bit further back to the rolling blackouts in California - turned out, there was plenty of power all along, but energy traders (ie. Enron) were purposely withholding / misallocating supplies to cause artificial shortages.
If oil speculators were required to take delivery, most of them would disappear.
Oil supplies are ample and yet the price is rapidly increasing - that's a sure sign that much of the price increase is due solely to speculation ... and just like last time, the price will eventually crash, but in the meantime, many businesses and individuals will be hurt.
Ron
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Domagon - Website Management and Domain Name Sales
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