The real culprits behind the wheel
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The story addressing the potential role of investors in the oil price surge is merely the latest round in an ongoing witch-hunt for the oil bad guy. Today, it’s investors. (“Regulators are probing oil market,” May 30.)
But the culprit is us.
Investors may exacerbate the price increase. But their contribution is no match for the powers of global supply and demand.
It’s simple: Demand continues to increase, while production capacity remains limited. Prices rise.
To lower prices, we must reduce consumption.
Matt G. Heling
Irvine
Inside the business of entertainment
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