Michael Hudson Quotes:
Ocupation: Professor
Life: b. 1939
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
source: Source: www.counterpunch.org
topic: Oil, Arabia, Fracking, High Prices
