[MikeWaters]

Remember the whole thing about how the oil prices had "very little" to do with speculation, and were the result of increased demand in China and India, and nothing to do with speculation?

Suddenly the speculation bubble pops, every report is about the commodity speculation turning the corner and falling, and no one says "oh yeah, forget about all those lies we told you, it really was speculation the whole time and not much to do with market forces."

Remember that the next time something doubles in price in one year and you are told that it has to do with supply and demand, and nothing to do with speculation.