I got this strange email from Hawaiian Airlines today. I disagree overall with their argument. Regulation is a 4 letter word no matter how you spell it. Speculators offer us insight to the future price and demand of oil. They spend lots of time and money doing research. They provide a valuable crystal ball as to our world's needs. Yes, they may be partially responsible for the price, but this letter does not address the simple world demand for oil versus supply.
Why spend time regulating and creating yet more government when removing government regulations would foster more competition, more exploration, and more supply of oil and other energy sources.
Finally, I'm sure the airliines try to fight regulation of their industry at every turn, yet here they are turning speculators into these evil people who need to be regulated.
3 comments:
http://www.townhall.com/columnists/WalterEWilliams/2008/07/09/scapegoating_speculators
Cut and paste it. I don't know how to link in the comments.
Well said, BVM.
I luv u guys. I never could find a good explanation about speculators and now I have. THX!
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