Traders Driving Oil Prices Up

"Just about everyone is ducking for cover. Big Oil is pointing fingers at hedge fund managers, who blame commodity index funds, who in turn cite surging demand in China, production losses in Nigeria and Iraq, and hostile regimes in Iran and Venezuela.

"Fox's O'Reilly, at least, is clear: He blames all "these Vegas-type people [who] sit in front of their computers and bid on 'futures' contracts." As he puts it: "Supply and demand? - my carburetor, this has nothing to do with the free market." - Forbes.