…recent oil price run-up has cost consumers an additional $10 billion a month since mid-December…

April 5, 2012 § Leave a comment

“It is similar to the gambling Wall Street did on whether or not people would pay their subprime (below-market rate) mortgages in the mortgage meltdown,” said Michael Greenberger, a law professor at the University of Maryland and a former federal regulator of financial markets. “Now they are betting on the upward direction of the price of oil.”

I wonder if Don Boudreaux will suddenly become the consumers friend when it comes to oil speculation?
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