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Will Obama rein in big oil?
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Antonia Juhasz: Clinton-era deregulation helped big oil get bigger
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The run-up in crude oil did have something to do with the futures market, but not at all the way these two think. It had nothing to do with the Enron loophole. A pipeline company in Oklahoma called SemGroup got into a short squeeze. They lost on their hedges, and went all cowboy berzerk chasing losses. So it was a US commercial that went short, not speculators going long overseas. Google it.
I thought they were doing better than that already. I guess there's still some work to do.
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