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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (72546)	6/16/2008 5:33:57 PM
From: spiral3	Read Replies (1) \| Respond to of 542147

but short term manipulation for profit is a lot different, and a lot easier, than driving the oil price greatly up for months and years. Tim, what do you think is a boom is, it is a lot of short term upward price movements over a sustained period of time. Nothing you say speaks to the presence of excessive speculation. Either way the market will tend to drift back to the price dictated by the fundamentals of the market. Booms bust they don't drift. that's not the same as traders simply being able to directly in a controlled intentional way control prices, simply setting what oil will sell out by conscious decision. Traders control their own price, the result is the market price, you might not find cornering or manipulation doesn't mean that there can't be excessive speculation over longish periods of time. That amounts to less government control. Everyone gets to decide how they will deal with the higher prices, rather than having the government decide for them. Right, but it does not guarantee that usage targets will be achieved, which is the objective in the first place.