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What's good about oil speculators?
Why is it that speculators are criticised when oil prices go up, but there is no call for regulation when oil priced go down because speculators are trading from the short side?
Granted, lately the trend following speculators have been buying, but that means that traders who follow a counter-trend strategy or a reversion-to-the-mean strategy are selling short. Most of the time, speculators are trading with other speculators and the effect on the price is nil. But we all benefit, because all this activity creates liquidity and reduces risk for people in the oil industry, wich results in lower costs for everybody. So, why aren't we cheering for speculators?
1 Answer
- Terry SLv 51 decade agoFavorite Answer
People who DID NOT SEE peak oil coming want to punish the people who did.
It's human nature to envy others who are making money.
The people compaining forget when oil was 10.00 per barrell.
As long as they can pay a cheap price, they don't complain.
As soon as the price goes up, they look to point fingers at other people.
Politicians are great at posturing and blaming but they are the ones who bear most of the blame since they did not see peak oil production coming and did absolutely nothing to help ease the pain.
