Friday, September 12, 2008

Study links oil prices to investor speculation - Yahoo! News:
"'We have clear evidence the fund flow pushed prices up and the fund flow pushed prices down,' said Michael Masters of Masters Capital Management, calling the amount of money moving into oil futures markets by large institutional investors in the early part of the year 'way off the scale.' Masters said its analysis shows investors 'began a massive stampede for the exits' on July 15 and that this caused the price decline. 'These large financial players have become the primary source of the dramatic and damaging volatility seen in oil prices,' concluded the report."

So the rush to open up ANWR and offshore drilling will serve just one purpose: enrich the oil companies even further. And at the same time though, it will WEAKEN our reserve of oil for the future and increase our national security risk.

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