Article in Journal
Climate Notes: A Guide to Speculation
Marc Gronwald, Jana Lippelt
ifo Institut, München, 2014
ifo Schnelldienst, 2014, 67, Nr. 21, 58-59
ifo Institut, München, 2014
ifo Schnelldienst, 2014, 67, Nr. 21, 58-59
![](https://www.ifo.de/DocImg/ifosd_2014_21_7.jpg?c=1689236889)
When the oil price hit a record high in 2008, it triggered both public and academic debate over the causes of this price increase. The “Climate Notes” series summarises these debates and highlights an aspect that may seem obvious, but seem to have been overlooked by discussions to date, namely that “speculators” are basically in a position to influence oil prices.
JEL Classification: L720, Q320