A debate is emerging over how curbs on energy market speculation may affect oil prices, with at least one major bank boldly expecting the new rules will trigger a 30% price plunge. The outcome holds wide-ranging implications for G20 developed nations that are collectively spending as much as US$4.8-trillion to stimulate their economies through the worst global recession in decades.
"Regulators don't and shouldn't talk about trying to influence prices," said John Brodman, a former deputy assistant secretary at the U.S. Department of Energy. "But there's a growing political imperative out there. An oil price rise of US$30 a barrel would offset 40% of the stimulus spending. That's not what these countries are looking for." (more)
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