Analyst: Blame Fed’s liquidity flood for high oil/diesel

The good news is that skyrocketing oil prices, like slasher movies, are truly frightening only the first time you watch one. They get less scary with repetition. But being less scary doesn't change the basic facts. Markets need both hedgers and speculators to function properly. When they lose balance, they no longer function according to true supply and demand. --journalist Ed Wallace, writing in Bloomberg Businessweek Up, up, up... Excessive speculation is taken as a given ...

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