Commodity regulators fail to ensure "everybody plays by the rules"

08/29/2008 |

While governments in free-market economies play no major role in fixing the price of commodities, this editorial argues that governments do have "the duty to ensure that everybody plays by the rules and by the forces of demand and supply." While market fundamentals would suggest an oil price of $60-$80 a barrel, speculators have helped drive the price well beyond $100 a barrel. According to one hedge fund manager, gas prices would fall by half if Congress were to bar commodity index funds.

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