Michael Covel

Richard Dawkins Added:

September 9th, 2008 at 4:29 am

Why not? Speculators can make money long or short. If oil goes to $500 then I’d rather it went from $70 to $150 and then back to $100 and then to $200 etc….because a wise speculator could make more money than in a straight line.

Michael Covel Added:

September 9th, 2008 at 9:51 am

I was being more sarcastic. Meaning so many people have complained about speculators causing high prices, I wonder if they now give credit to speculators for low prices?

Dogwood Added:

September 9th, 2008 at 10:08 am

Of course they get credit, among friends and fellow traders, but not outside that little club because it doesn’t fit the desired narrative!

Richard Dawkins Added:

September 11th, 2008 at 4:37 am

Oil Investors Pulled $39 Billion in Futures Contracts

http://www.bloomberg.com/apps/newspid=newsarchive&sid=agQ7prrjwiuU

Simit Patel Added:

September 11th, 2008 at 6:31 pm

dollar devaluation was the primary driver of higher oil prices, and the illusory dollar strengthening we’re now seeing is pushing oil prices lower.

as money supply is the issue, i’d have to vote for blaming the fed.

Rick Added:

September 15th, 2008 at 4:59 am

Everybody knows that speculators only cause the bad. 8>)

taylor boyd Added:

September 15th, 2008 at 9:08 am

blame no one. that is only a distraction. ride trends and profit. I think it is of no consequence why things happen. The important thing is that they do happen.

Melinda Added:

September 15th, 2008 at 10:06 am

Why “illusory dollar strengthening”? Seems to me, dollar has broken out from the long term down trend, and now it’s heading up. Just check the monthly chart, and draw a trendline.