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When speculators were allowed into the oil markets rather than actual buyers, the price jumped to like $120 barrel in like 2007. They had to stop it because hed
by dd36 3y ago
When speculators were allowed into the oil markets rather than actual buyers, the price jumped to like $120 barrel in like 2007. They had to stop it because hedge funds could just drive the price up indefinitely. See Bitcoin.
- akira2501 3y agoSpeculation didn't suddenly exist in 2007. I do recall several regulations being changed at that time which _relaxed rules_ around the market. Is it possible that these regulations had more to do with the outcome than mere "speculation" in and of itself?
- dd36 3y agohttps://thinkprogress.org/leaked-documents-reveal-major-speculators-behind-2008-oil-price-shock-hedge-funds-koch-big-banks-oil-54ff4aeec90d/ https://thinkprogress.org/leaked-documents-reveal-major-spec...