michael masters

Atlanta hedge fund manager Michael Masters has been a star witness in two recent Congressional hearings on how speculators are supposedly driving up oil prices.

Masters and I don't see eye-to-eye on this issue, so I was surprised to get a call from him after my "Don't Blame The Oil Speculators" column went up on Fortune.com last week.

This is one way to bring some sanity back to the price of oil, and I’m glad to see that not only is Obama backing this bi-partisan push to put some limits on out of control speculation, but also calling for tougher restrictions on market forces that aren’t doing anything to help out consumers…