Wall Street Journal Evidence That Speculators Are Responsible for the Run Up in Oil?
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Submitted by unsettling economics
The Journal article does not discuss oil, but chocolate. Even so, the article is of interest because it dismisses the idea that fundamentals are responsible for a rapid increase in prices.
The only speculator quoted responded that speculation can only cause higher prices in the short run because farmers can plant more trees. How long does a tree take to mature?
