Write a review of recent developments in the international markets for crude oil. Start by describing the trends observed in oil prices over the two past decades.

Write a review of recent developments in the international markets for crude oil. Start by describing the trends observed in oil prices over the two past decades. Then, discuss the speculation argument in detail and report the impact of speculative behavior on the oil markets. Repeat the exercise for inaction on the part of the federal government and conditions of demand and supply. Finally, rank the three arguments (speculation, government, demand/supply) by their contribution to the observed trends in oil prices.

I expect you to type your response (single-spaced, 12 font size, three to five full pages) and post it on Blackboard as a Word (.doc) file by Monday (2/10). No handwritten or late responses will be accepted.

This is an individual assignment. No collaboration is allowed.

For resources, see your lecture notes and the links posted on Blackboard. You may use additional material available on the web. Make sure to cite all sources, mine and outside, properly on a separate page at the end, on top of the minimum three pages required for your answer.

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