was hoping someone woulda mentioned the speculators by now. as they are the primary cause of volatility in excess of normal supply/demand.
What i really, really wonder...is whether derivatives used to finance long positions in oil are now severely underwater & is there a new crash brewing behind the closed doors of wall street?
the latest spending bill will remove a protection from the frank-dodd law whereby taxpayers would go back to being on the hook should bank derivatives fail. Frank dodd had forbidden taxpayer money used to bailout derivative losses, until now.
