because petrol is a product like any others and speculation is not against the law. Speculators take the risk to loose or win. we take the the consequences at the service station. It is capitalism.What did the international community don't stop the speculator to speculate on the price of crude oil?
speculators do not set the price of oil, nor anything else. They are only betting that the price of oil will rise. If you bid on anything on the stock or commodities markets, you are simply placing a bet, win or lose. So if you wish to enter that market by purchasing oil futures, it would have no effect on the price of oil. And if then you tried, and somehow succeeded in driving the price down, you'd be betting against yourself!
Prices for oil, and food, and most everything else, are escalating only because the dollar keeps on going down in purchasing power.
there is also no 'international community' which has power to stop speculation, thank goodness! We are most harmed by other people who would make rules for us, and deny us our own rationality.What did the international community don't stop the speculator to speculate on the price of crude oil?
International price control on commodities (or any investor haven) will have serious repurcussions for investor confidence and hence the availability of funds to sustain the world economy. Besides, it's time we wean ourselves off crude oil.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment