Oil Economics

I feel obliged to share this even though it will undoubtedly bring me grief at home because until I read Mr. McQuain’s piece on oil speculators I truly thought they were to blame at least partially for high gas prices. After all, it’s easy to point a finger at paper traders that never get their hands dirty and lay the blame on them. Easy doesn’t mean right. I’ve always thought of futures trading as nothing more than Vegas in a suit. I may have to change that mindset. McQuain’s assertion that futures trading tends to reign in spikes with a dose of reason makes sense. Go read about onions and President Ford.