Walter Williams on Speculation in the Oil Markets

http://www.townhall.com/columnists/WalterEWilliams/2008/07/09/scapegoating_speculators

TownHall columnist Walter Williams, whom I first heard of when he filled in for Rush a few years ago, is a brilliant scholar and conservative commentator. His columns are generally insightful, concise, and on target.

 

Williams has a column up today about speculation in the oil markets, why Congress is foolish to attempt to cull speculators from the trading herd, and a bit about supply and demand principles.

 

The kicker – his example for how supply, demand, and speculative trading works is CORN! Quick read; hopefully it’ll hit some people who don’t understand markets or marketing‚Ķ