In what way? Nothing happened to the speculators. They're still there.
The price change happened when your President made it plain that America was going to get serious about its future oil supply. As oil is heavily pre-brought, the perceived change in the future oil-supply had an immediate effect on price.
This is a BIG problem with mutliple causes which needs multiple solutions.
True - when the supply is high and the demand is low, speculators are not interested and prices are moderated.
But the supply was not very high and hasn’t really increased that much but the threat of drilling on American soil has frightened the social parasites in the speculator community so they aren’t driving up oil prices anymore.
We need to address the short term problem:
Drill ANYWHERE in the U.S or Off-shore
INCREASE refinery capacity
STOP the speculators from driving prices up everytime some
damn shiek gets a cold or the Iranians threaten us.
And the long term problem:
Nuclear electic generators
Coal and gas production for energy
Solar, wind and other imaginative solutions where
practicable
We can only live in a modern world and compete with the rest of the globe if we have access to cheap, readily available energy.
We can only starve out out the Islamic opposition if we are able to replace them as an energy source.