Saturday, April 21, 2012 | 2:01 a.m.
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President Barack Obama recently announced plans to restrict speculation involving oil prices. Since this involves the futures markets and a commodity futures contract is a zero sum game, can anyone explain how speculators affect the increases in oil prices? He was incorrect when he claims speculators bought up existing oil inventories, by the way. Those who do speculate do not expect to deliver or receive any of the commodity involved in the trade.
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