 | DrumBeat: October 31, 2008 | The Oil Drum | On being wrong - the falling price of home heating oil in Maine |  |
64 comments on ASPO VII - second day
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64 comments on ASPO VII - second day
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I thought it was interesting that there was a speaker on the role of speculation on the price of oil. The speaker, Luca Barillaro, seems to have comments that are consistent with what I have seen elsewhere. It sounds like there was at least some push by speculators on the way up. Now that it has been going down, the margin calls and other changes that are causing hedge funds to sell are causing downward pressure on prices.
And maybe there is some push by speculators on the way down too? Speculators can go short as well as long...