Michael Masters’ recent testimony before the US Congress is being widely cited in support of the proposition that speculation is having a big impact on upward and downward movements in commodity prices. As a long-standing futures market insider, he argues quite persuasively that institutional investors such as hedge funds have entered commodities futures markets in a huge way – a $250 Billion increase in trading since 2003 – and that the argument of soem economists that they do not impact prices becasue they do not take physical possession of the traded commodity does not hold water. Indeed, he states and seems to demonstrate that index speculators in futures markets directly impact on prices in spot markets. As he argues, if this were not so, there would be no regulations, and no regulator.
- Is new coal export infrastrucutre in the best interest of BC and Canada (June 18th, 2013)
- Climate justice and the political moment in BC (April 5th, 2013)
- Absolving our Carbon Sins: the Case of the Pacific Carbon Trust (April 2nd, 2013)
- Closing the Loop: Zero Waste, GHG Emissions and Green Jobs in BC (March 28th, 2013)
- Dutch Disease is Dead … Long Live Dutch Disease!!! (March 4th, 2013)