Editorial: Oil speculators not entirely to blame for oil prices

07/7/2008 | Economist (free content), The

Oil speculators represent an easy scapegoat for skyrocketing prices, but several signs indicate that the speculators are not truly to blame. The increase in oil futures investment is not that large, compared to the global trade in oil, for instance, and the oil speculators in fact provide the vital service of helping airlines and others hedge against rising prices, according to this editorial.

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Economist (free content), The

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