2008-08-21washingtonpost.com

"It is now evident that speculators in the energy futures markets play a much larger role than previously thought, and it is now even harder to accept the agency's laughable assertion that excessive speculation has not contributed to rising energy prices,"

Of course, our gang of populist demagogues on the hill haven't pointed out that therefore the speculators must also be responsible for the sharp declines in price. How to explain the long-term steady rise is of course another problem altogether.

Most speculators can't make a habit of being wrong over the long term!


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