You probably can't manipulate a huge market, unless,
you're trying to make it go further in the direction it already wants to go, no?
You can jack it up, down, but you really can't fight it for too long.
What I'm saying is, if Big Oil brought it down, it probably helped bring it up. Or someone did.
--- Michael Perelman <michael at ecst.csuchico.edu> wrote:
>
> How much would it cost big oil to sell futures to
> deflate the bubble before the
> election? They might be able to benefit by playing
> the predictable movement.
>
> On Tue, Sep 19, 2006 at 06:06:09PM -0400, Doug
> Henwood wrote:
> >
> > It doesn't take much to burst a speculative
> bubble, though higher
> > interest rates (and we've had plenty of those) are
> always effective.
>
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA 95929
>
> Tel. 530-898-5321
> E-Mail michael at ecst.csuchico.edu
> michaelperelman.wordpress.com
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