Wikileaks: Speculators Helped Cause Oil Bubble

``Well, thanks to Wikileaks, we now know that when the Bush administration reached out to the Saudis in the summer of '08 to ask them to increase oil production to lower prices, the Saudis responded by saying they were having a hard time finding buyers for their oil as it was, and instead asked the Bush administration to rein in Wall Street speculators.'' -- A bit of a warmed-over piece from Taibbi this time; what he doesn't do is connect the dots between Fed money-printing and the flood of money into commodities (which is still below historical mean levels). Of course Goldman et. al are going to bet on commodities while the Fed has established negative real interest rates...