California Autos Examiner

Friday, September 05, 2008

Yah Think? Oil-Supply Data Manipulation Probed

Interesting WSJ report that asks whether or not oil prices may have been manipulated by traders. If that supply data was fudged, it could have caused unnecessary spikes in the price of oil as the market was tricked into thinking there were shortages. There are even theories out there that traders have leased oil tankers and used them as storage to keep inventory numbers artificially low. This whole mess reeks of the same "funny business" that impacted California's energy market years ago. The article linked below is definitely worth a read.


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