How Tomorrow Moves| More...
 

CFTC: Speculators Caused 2008 Oil Price Crisis

digg Share this on Facebook Huffpost - CFTC: Speculators Caused 2008 Oil Price Crisis stumble reddit del.ico.us RSS


First Posted: 07-29-09 08:29 AM   |   Updated: 07-29-09 08:32 AM

I Like ItI Don’t Like It
Read More: Cftc, Commodity Prices, Oil Prices, Speculators, Wall Street Journal, Business News
Oil Prices

rawstory.com:

In a major U-turn from its claims during the Bush administration, the Commodity Futures Trading Commission is now set to admit that speculation in oil markets and - not the forces of supply and demand - are behind last year's massive oil price spike.

In the summer of 2008, oil prices on the open market reached an unprecedented $147 per barrel. Many economists argue the spike helped push the US into an economic free-fall last autumn.

Read the whole story: rawstory.com

In a major U-turn from its claims during the Bush administration, the Commodity Futures Trading Commission is now set to admit that speculation in oil markets and - not the forces of supply and demand...
In a major U-turn from its claims during the Bush administration, the Commodity Futures Trading Commission is now set to admit that speculation in oil markets and - not the forces of supply and demand...
Read more from Huffington Post bloggers:

Filed by Ryan McCarthy  |  Report Corrections
 
Comments
0
Pending Comments
0
iPhone App Promo

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Comments are closed for this entry

 You must be logged in to comment. Log in  or connect with 

Connect