Why are gasoline prices going through the roof? Whatever the reasons, oil speculation isn’t one of them. That’s the conclusion of Cato Institute senior fellow Alan Reynolds in a column published by the New York Post on June 20th. Reynolds starts out saying:
“Senator John McCain recently called for a “˜thorough and complete investigation of speculators’ to see if they’ve driven up oil prices. And Senate Democrats plan a new bill aimed at commodity speculators – a witch hunt that’s clearly about oil.
“But, much as politicians would like to blame speculators, it’s just not so.”
Read the full column at:
Scapegoating the Speculators [1]
Founder and Senior Policy Analyst at Cascade Policy Institute [2], Steve Buckstein [3] is Director of Cascade’s Government Transparency Project and the Oregon Economic Opportunity Project. Based in Portland, Cascade Policy Institute is Oregon’s free market research center.