We’ve had some good discussions on this blog about the cause of last summer’s oil price run-up.
Proponents of the supply and demand canard aren’t going to be pleased by Sunday’s 60 Minutes report tracing the run-up to investment speculators, and specifically Morgan Stanley and Goldman Sachs.
If you missed the report, the link provides a detailed – and impressively sourced, for those prone to criticize CBS’ reporting – summary of the investigation’s findings.