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Enron (not so) indirectly responsible for the huge spike in cost of oil.
Favorite This! The Price Of Oil
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Favorite This! 6 thoughts on “The Price Of Oil”
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oddly informative and on the money from my experiences, yay 60 minutes!
This shit pisses me off. It’s not that I wasn’t aware of it but … This should be punishable.
I was aware that the ridiculous prices were (at least in part) due to speculators, but I didn’t realize how and when it started.
Some one should ensure that this never happens again. We the consumers, once again, take it in the A$$.
Getting rid of speculators would ruin the futures market even more than they are now. Speculators provide the necessary liquidity to allow the actual hedgers to enter and exit the market when they need to.
If you want to see a great documentary on the rise and fall of Enron, go rent “Enron: The Smartest Guys in the Room”.