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+ - "Bona Fide Hedging" Exemption Reinflates Oil Bubble->

Submitted by
jobiwankanobi
jobiwankanobi writes "When gas prices rose to over four dollars a gallon in 2008, the common narrative was that the increased demand from China and other developing countries was the cause of the skyrocketing price. This article shows the cause to be a speculative bubble made possible by an exemption to a regulation meant to prevent the "walking up" of commodities prices by speculators. The exemption is called the "Bona Fide Hedging" exemption, and has been exploited by the usual suspects. This bubble not only affects oil prices, but corn and grains as well. This not only makes tortillas more expensive, but could be responsible for starvation in many areas of the world, not to mention the affect on the world economy."
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