Quoted: UW-Madison economics instructor Richard Shaten points to market speculators for their role in fluctuating oil prices, creating what some call a “crude oil casino.” He says, “You know, I read someplace recently that for every barrel of oil that gets delivered, people buy and sell 30 barrels of oil on paper.” He adds, “Many of these trades are computer programmed. Billions of dollars changing hands over speculation on the price of oil.”
Office of Strategic Communication