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Richard Rider

If evil speculators were responsible for $7.50 increase in oil barrel price, are they responsible for $43/barrel DROP in prices since July?

The motto of liberals is (well, SHOULD be) “Don’t look back.”  They don’t, else they couldn’t continue babbling their idiotic economic proclamations.  Looking back, they’d learn something, which too often would contradict their mindless mantras.

Here’s a great example — from Economics Professor Mark Perry’s blog:

Sen. Bernie Sanders blamed speculators for the $7.50/barrel increase in oil prices from Jan-June; Do they now get credit for the $43/barrel drop in oil prices since July?


Last summer when oil prices rose by 5% during a three-week period in June partly due to instability in Iraq, Sen. Bernie Sanders once again blamed greedy energy-market traders for the rise in prices and introduced legislation in the first week of July that would allow the government to intervene in the futures markets to curb speculation on oil prices. Now that oil prices have plummeted by almost 60% since Sen. Sanders introduced his bill (see chart above).
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To see the full article (lots more good stuff), go to: