On the Edge with Max Kaiser-World oil markets & their structure-02-04-2011

PressTVGlobalNews
February 04, 2011
In this edition of Press TV's On the Edge with Max Kaiser, Max discusses world oil markets and their structure with the English energy analyst and consultant, Chris Cook. Cook believes that the current rise in oil prices is because many funds and investors have took out their capital from the dollar market and invested it in the oil market. He says if it was not for this matter the current price of oil would be no more than 50/60 dollars. He promotes a new market structure in which there is no middleman and producers and consumers are linked directly. He says in this system the middlemen turn into service providers and it benefits them in the sense that they do not risk their own capital. He claims that the idea of the Iranian Oil Bourse is his. Enjoy the show.