An MMT site bringing you dogma-free economics without the pleadings of self interest
Thursday, June 4, 2009
Goldman Raises Year-End Crude Forecast by 31% to $85
Yes, and Goldman will be one of the big reason it gets there, or higher, as it buys futures for its own account and pushes speculative behavior on the part of its clients. Nothing has changed. The financial crisis taught our policy makers nothing. Oil prices will have to go much higher before evoking a political response.