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Economics Roundtable: Oil bubble: yes; price fixing: no |
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| Jun 02, 2008 06:48 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Forecasts, Other issues, Commodities, Oil The "Totally Informal Economics Roundtable" (TIER) met this week. Readers of this space know that the esteemed Roundtable achieves a quorum whenever yours truly and my three astute economist friends from graduate school convene to discuss matters economic... or to celebrate the birthday of one our school-age children.This week's the topic was oil's remarkable 4-year run to $135 per barrel. The TIER agreed that, yes, speculators, traders, hedge funds, and other institutional investors had driven oil to a 'bubble' price or level -- but not due to any conspiracy or coordinated effort to push prices higher. Rather, the TIER agreed that speculators bought oil futures and other oil instruments: because a) they believe the price of oil is headed higher, and/or b) they believe they'll benefit in some way from an oil-long position. Continue reading Economics Roundtable: Oil bubble: yes; price fixing: no Permalink | Email this | Comments<map name="google_ad_map_145-1213176"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1213176?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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