[Marxism] more liberal wisdom on oil

Rakesh Bhandari bhandari at berkeley.edu
Fri Jun 27 10:04:02 MDT 2008

Krugman argues against speculation effect because spot prices are higher
than futures prices, but both show a very sharp incline, with the spot
price only over-shooting at times the futures prices. I don't think the
price data show that the spot prices are not linked to  futures prices, 
though the former  may at times over-shoot the latter by just a bit.

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