I'll return soon for a more in-depth analysis of the scapegoating of speculators as responsible for high oil prices by statist politicians like Joe Lieberman, Barack Obama and Nicholas Sarkozy, but for now I recommend you to read this article
in The Australian
for the link)about why central banks rather than speculators should be blamed.
UPDATE: Like I said, I'll very soon, probably by tomorrow, write my own analysis on the subject. But in the meantime, I've found two other good writings on the subject, one by Paul Krugman
and one by Robert Murphy