Once Again, Oil Speculation

When you’ve covered business and the economy as long as I have, things start having a familiar ring.

President Obama in a speech he gave today scolded oil speculators for driving the price of oil too high. I’ve lost track of how many times I’ve heard a politician give the same speech.

There is  little economic evidence for this.

Here is a story I wrote on the subject the last time politicians called out the speculators. Interestingly enough, it was during the last presidential election year.