January 22, 2016

Those Damned Speculators!

Daniel Bier @ FEE suggests supply and demand might control oil prices, contra Trump & Sanders:

Fortunately, when he wrote that in 2012, Sen. Bernie Sanders was ahead of the game, having never read anything about supply and demand at all. Unencumbered by basic economics, he was able to see that Big Oil "gouging" and Wall Street "speculators" were to blame.

Remarkably, right around the time of the fracking revolution, the price of oil and gas started tumbling. I guess Wall Street's heart grew three sizes that day.

Oil and Energy Quote of the Day Posted by John Kranz at January 22, 2016 11:53 AM
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