Why Gas Is So Expensive Today (Hint: It’s Not Libya)
If oil is priced above demand, there should be large supplies of unsold oil piling up in tankers.Period, god damn it.If there is no unsold oil piling up in tankers than oil is currently priced at the level where demand at that price equals the supply.  You cannot blame commodity speculators for this!My understanding is that during the last price speculation bubble, there were oil tankers piling up.  If this is not happening now then commodities speculators have got nothing to do with it.  Why is this so hard for people to understand?