[Peakoil] Soros on the price of oil

[Nature and Society Forum]

 From the BBC website this morning:

"Producers' cartel Opec has refused to increase production any  
further, convinced that speculators are to blame for runaway oil  
prices rather than supply problems.

In an interview with the Daily Telegraph, billionaire investor George  
Soros agreed with this stance, calling the record price of oil a  
bubble that will only burst when the US and the UK are both in  
recession.

In the same newspaper, it was also reported that German politicians  
were poised to call for a ban on oil trading by speculators. "

More here:
http://news.bbc.co.uk/2/hi/business/7420042.stm

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Keith Thomas
Nature and Society Forum
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