Time to trim the hedges?

There are 630 hedge funds investing in energy markets, with, last year, $8 trillion of futures contracts in oil. There is a growing movement arguing that these speculators are not the ’secondary’ markets they are supposed to be, improving the market for everyone, but rather a rentier class cashing in at everyone else’s expense. Hazel Henderson is an eloquent critic of the global casino economy and is worth reading on whether it is time to rein in the oil speculators…