Oil Prices Are All Speculation

The Administration says oil's runup is due to shortages, but the evidence points to manipulation

"The problem you had in California was caused by a combination of things: an unwise regulatory scheme, because they didn't really deregulate. Now they're trapped from unwise regulatory schemes, plus not having addressed the supply side of issues. They've [Californians] obviously created major problems for themselves." —Vice-President Dick Cheney, May 17, 2001, on PBS's Frontline

To continue reading this article you must be a Bloomberg Professional Service Subscriber.