The Oil Drum: Are We in a Speculative Bubble with Regard to Oil Prices? Date: Wednesday, October 31 @ 11:47:51 PDT Topic: Production; Extraction; Exploration
Maybe the two most common explanations (or myths) about high oil prices are:
1. oil companies are manipulating prices
2. speculators are driving prices up
Of course, these two explanations are satisfying our natural impulse to find scapegoats rather than facing the depressing facts of fossil fuel depletion. Let's take em on.
