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You know, I used to like the Wall Street Journal. I really think they're full of crap these days, though. Last week, they ran a piece by their in-house editorial staff stating that the "speculator-based" cause of the price of oil was fully-debunked, and that it has now been proven that the real reason is basic supply and demand.
What a load of crap. It didn't help that their editorial completely lacked any explanation or proof of their sole supply and demand theory.
If the price rose $25 so quickly, how can one rationalize that as supply and demand?
The rise in the cost of oil is a reaction due to lack in the faith of the US dollar triggered by the mess that is currently going on in the banking system..
You know, I used to like the Wall Street Journal. I really think they're full of crap these days, though. Last week, they ran a piece by their in-house editorial staff stating that the "speculator-based" cause of the price of oil was fully-debunked, and that it has now been proven that the real reason is basic supply and demand.
What a load of crap. It didn't help that their editorial completely lacked any explanation or proof of their sole supply and demand theory.
If the price rose $25 so quickly, how can one rationalize that as supply and demand?