International Economy: Don’t Kill the Oil Speculators

“Philip Verleger writes in International Economy “how commodity transactions promote price stability. . . . Far from promoting price volatility as Prime Minister Brown and President Sarkozy suggested, commodity transactions are a force for price stability.”  Quoting from Poten’s annual ranking of spot charterers, Mr. Verleger states that “Morgan Stanley ranked ninth among the world’s largest charterers of ships with 117 vessels under contract.”