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Politics : Rat's Nest - Chronicles of Collapse

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To: Wharf Rat who wrote (8245)	7/23/2008 10:15:38 AM
From: Wharf Rat	Read Replies (3) of 24224

Fundamentals led to $130 oil - report Federal task force finds that supply and demand for oil are largely responsible for the commodity's record rise. NEW YORK (AP) -- A federal task force set up to examine the sharp run-up in oil prices says in an interim report that fundamental supply-and-demand factors are most likely to blame. A number of lawmakers and other critics have blamed the historic rise in prices on speculators that they say are manipulating prices. The Interagency Task Force on Commodity Markets, chaired by the Commodity Futures Trading Commission, was formed last month to examine investment practices and fundamental market factors. The task force plans to continue evaluating markets and issue a further report later this year, but says it is issuing an interim report on crude "given the importance and timeliness of their research efforts." money.cnn.com

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