I realize I'm chiming in with my 2nd Vince Farrell reference of the day [1], but I had to call your attention to this outstanding article:

I would like one of our fine, financially knowledgeable, market savvy politicians to define "oil speculator" for me. I know, there is no politician that fits the aforementioned description, but I would like someone to tell me who "they" are. I suppose Morgan Stanley would qualify since they are not in the oil business and trade oil futures.

So "they" are evil and to blame for the high price of oil. Except Morgan handles all the hedging business for United Airlines. The trades appear as Morgan trades but they are for an airline that critically needs to hedge...

...read the rest of Vince's article by visiting CNBC's blog [2]