Oil Prices Tipping Point?
Today, the Instapundit provided a link to this discussion of speculative oil trading driving prices beyond their true market value. On All Things Considered, NPR also had this story about the same issue. I would be getting nervous as an oil investor, the psychology might be shifting in the wrong direction. The upside could be falling gas prices, the downside could be all the pension funds which have poured money into oil. If pension funds can drive up prices so furiously, it makes me wonder about the wisdom of allowing pension funds to invest so freely in the market.