Why oil prices are so high

AlterNet
by Sam Pizzigati

06/10/08

Grand concentrations of private wealth, history tells us, have a nasty little habit of nurturing wasteful and witless speculation. Wasteful and witless speculation, news reports last week revealed, just happens to be the economic joker in the deck that’s turbocharging our current surge in crude oil prices. The speculation now doing so much damage at America’s gas pumps comes mostly out of hedge funds, those shadowy mutual funds on steroids open only to the deepest of deep-pocket investors...

//www.alternet.org/workplace/87474/


Informant: Thomas L. Knapp



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