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ha, ha, ha, they should start to investigate and blame themselves. Thats what they got when they devaluted currency by their current monetary policy. Now everyone and his gradmma is speculating on further devalution of USD in hard assets like Oil.
Of course there are supply problems too, but when you add to the mix speculation, it makes things only worse.
The most estimates on oil speculation says, that there is around 20-30 bucks premium due speculation on weak dollar. Thats what you get when you have FED trying to bailout its Wallstreet friends, while they dont care much for value of dollar.
The Central Eurobank head told it few weeks ago: "to cut interest rates at this point would be the same as taxing the people to bail out the banks. Cost of extra inflation would be the ultimate sign of moral hazard to save banks."
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