Why should the government intervene in free markets? Won the bubble just work itself out eventually?
The markets will eventually work themselves out and this bubble will pop on its own accord, just like all other bubbles have in the past. Unfortunately, while we are waiting, the price of oil could easily double again. Businesses and consumers can’t afford to wait for that to happen. For decades, we have had speculative limits in the commodities markets to reduce manipulations and price bubbles. Simply reestablishing these limits will greatly help solve this problem without unintended consequences.
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