“Peak oil”? Not necessarily. Try “massive speculation”…
Perhaps 60% Of Today’s Oil Price Is Pure Speculation
The large purchases of crude oil futures contracts by speculators have, in effect, created anadditional demand for oil, driving up the price of oil for future delivery in the same manner that additional demand for contracts for the delivery of a physical barrel today drives up the price for oil on the spot market. As far as the market is concerned, the demand for a barrel of oil that results from the purchase of a futures contract by a speculator is just as real as the demand for a barrel that results from the purchase of a futures contract by a refiner or other user of petroleum.
Perhaps 60% of oil prices today pure speculation
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About Javier Marti
As an Independent Strategy Consultant, speaker and founder of Trendirama.com Consulting and SunshineHypnosis.co.uk, Javier is dedicated to help organizations, small businesses and individuals to optimize systems, increase profits and make better choices in business and in life. He is the author of the book "Mobile, Domains & The Future"
Javier also shares his knowledge and experience through information-packed and entertaining presentations in English and Spanish.
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