Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Monday, February 20, 2012

An Oily Mess

I've felt that ever since 2008, the huge jumps in oil prices are tied extensively to speculation.  After Bear Stearns collapsed and the housing bubble began to deflate, the smart guys went and created a bubble in oil in order to cover their losses.

Now, we  don't have the losses to cover, but I'm still worried that price manipulation is going on.

There is no reason for prices to be going up now.


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