Michael Levy

How $30/Barrel Oil Could Save the World

In1999, oil traded at $10.00 a barrel and at that time, the price reflected supply and demand. In today's market, trading has become far more sophisticated and thus far more manipulated. Therefore, the supply/demand ratio cannot be fairly measured and my guess is $30.00 a barrel reflects more of a market value right now. I do realize my suggestion will not carry any weight in the corridors of power, however, it may help bring to the fore, the need to stop unfair speculation in a commodity that can bring the world in a deep depression in it is left to wild speculators to regulate.