Oil speculation and cost of living

The financial industry claim that they help to make the market more efficient by getting the right price for each product - using the efficient market theory. This is theory. In reality, the speculation in the market gives the chance for the professionals to make large profits at the expense of the consumers. This article explains what happens and the effect on households. This is why I support the effort of the US regulators to place controls on financial speculation by large banks and hedge funds. Our leaders in Singapore need to realize what is really happening, when they promote Singapore as a financial hub. http://money.cnn.com/2011/10/13/news/economy/gasoline_cost_speculation/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29