I guess the latest bogey man in washington is the speculator which is usually in the form of a hedge fund (often described in the press as a shadowy pool of money tied up in offshore accounts) or even worse a sovereign wealth fund (where the majority of the assets usually come from the home of evil - the middle east). Is there anything to this? Does the increased speculation (or as I consider it liquidity) stabilize the oil markets or does it in fact drive up prices? thoughts?