Hi, guys:
There has been this discussion at Businessweek with two writers of divergence point of view. This is the latest thread:
High Oil Prices: Hype's Impact
The writer echoed what I have said all along.
"But when the amount invested in oil futures rises from $9 billion eight years ago to possibly as much as $280 billion today, that is speculation far beyond what the reality of supply and demand warrants"
This figure is up to end 2007. (When oil is at $ 90-$100). However, if you look at the commentary section, there is one poster who believed that the amount is even higher since Feb 2008. It can be as much as $ 250 Billion in additional fund, for 2008 alone. <-- Of course, this is just speculation here since the data will only be available probably 6 months from now.