SOURCE: Industrial Info Resources

June 23, 2008 07:30 ET

BizRadio Debate No. 1: Mike Norman vs. Dan Frishberg on High Oil Prices, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - June 23, 2008) - BizRadio's top two economic experts go head to head on the best solution to high-priced oil: Should the government legally stop speculators who drive up the prices or should the government take the brakes off and let the free market fix the problem by itself? Read the riveting text below or listen to the raw audio.

Mike Norman: "I just don't think it is good public policy to allow speculators to hoard a scarce resource right now. Look, if you want to make a bet on rising oil prices, what's wrong with buying shares of ExxonMobil (NYSE:XOM) (Irving, Texas) or Chevron (NYSE:CVX) (San Ramon, California) or ConocoPhilips (NYSE:COP) (Houston, Texas)? The idea of hoarding a physical commodity, right now when we know it is a scarce commodity -- and there are places in the world where it is produced that they are not very friendly to us -- I just don't think it's good public policy to do that."

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