Premier's Michael Jennings believes high oil and food prices do not represent a speculative bubble. ...
Premier's Michael Jennings believes high oil and food prices do not represent a speculative bubble. The senior investment manager for global equities said high commodity prices are here to stay. "Is oil a bubble today? To me a bubble is where economic fundamentals cannot justify the prices - where demand is outstripping supply. Oil fields are shrinking in size - there are geological issues. "Is $137 the right price for oil? There is some speculation but I suspect the right price is about $120." Only around $17 of the oil price per barrel is the result purely of speculation and the p...
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