oil companies lied about the supply being low?
now we know the truth, (speculators drove the price up) whats to keep it from happening again?
- Anonymous1 decade agoFavorite Answer
they lie all the time, but sometimes the market condition makes their lies irrelevant.
- Anonymous1 decade ago
Deregulation in the financial markets allowed investment firms to invest way beyond (leverage) their assets to back their gambles.
Not only did we get to suffer high energy prices, now we get to bail out
everyone that bought into the big money grab.
You know banks were highly regulated after the great depression for nearly identical reasons. Funny how we always have to relearn things.