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September 03, 2005
Schroeder blames Hedge Funds for oil price hike
Chancellor Gerhard Schroeder is yet again in the news for spearheading investigation on the phenomenal rise in oil futures. Schroeder believes that at least $18 per barrel is due to speculators playing in the market. A strong hand of hedge funds cannot be ruled out. Though the government is investigating the trend, it admits that such a task should be undertaken on an international level to make it truly worth wile. Chancellor Gerhard Schroeder has been for long associated with the movement for regulating the loosely regulated hedge fund market.
His attempts to get an international consensus on the issue failed when both UK and US refused to implement regulation at the G8 summit in Scotland earlier this year. Germany goes for elections this month and the prospects of Gerhard Schroeder's win are very bleak. Opinion polls indicate that Angela Merkel might be the new Chancellor. His views or stand on the regulation of hedge fund industry are not known. Hedgeco.net reports:
“Schroeder’s administration has tried in the past to introduce hedge fund regulations internationally, but was unsuccessful when it brought the issue before the G8 nations meeting in Scotland.”
Read More: German Government to investigate role of Hedge Funds in skyrocketing oil futures
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