CorreyD wrote:
http://news.yahoo.com/s/ap/20080910/ap_on_go_co/oil_speculationRead it, weep, admit your stupidity and then SHUT UP Neb!
That report is such a JOKE! Did you even take a look at who is behind it? Masters Capital Management isn't exactly an objective group. Here is a little more about their CEO Michael Masters written in June.
http://nakedshorts.typepad.com/nakedshorts/2008/06/fisking-michael-masters.html"according to his (Masters) most recent US Securities & Exchange Commission 13F-HR filings, his hedge fund portfolio is at least knee-deep levered long in US airline stocks and General Motors."
Hmmm - I wonder why he wants to blame speculators instead of admit that we have a tight oil market? Maybe because a lot of people lost a lot of money in his hedge fund - and he wants to show them that it's not his fault, so they might actually trust him with their money again.