Monetary folly oils oil gains

Oil prices are again up and running. Are they heading up to the July 2008 level of US$147 per barrel, or even higher? Will higher oil prices again squash world economic growth?

With interest rates at or near zero, the London Interbank Offered Rate (Libor) at its lowest rate since its inception, unlimited money supply, and the US dollar declining, there has never been a more propitious environment for speculation on oil, food, gold and other commodities.
AsiaTimes