Speculators should not be 'scapegoat' for record oil prices: IEA
The International Energy Agency said on Tuesday that speculation risked becoming the "scapegoat" to explain rises in oil prices, which were the result of other factors, notably fear of supply shortages
By Agencies |
MADRID: The International Energy Agency said on Tuesday that speculation risked becoming the "scapegoat" to explain rises in oil prices, which were the result of other factors, notably fear of supply shortages.
"Often it is a case of political expediency to find a scapegoat for higher prices rather than undertake serious analysis or perhaps confront difficult decisions," the IEA said in a report that tackled the issue of speculation.
"Blaming speculation is an easy solution which avoids taking the necessary steps to improve supply-side access and investment or to implement measures to improve energy efficiency," the energy watchdog added.
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