EFFECTS OF FUTURES MARKET MANIPULATION ON CRUDE OIL PRICES:
AN EMPIRICAL EXAMINATION
By
Rami Elhelou B.S
A Thesis
In
AGRICULTURE AND APPLIED ECONOMICS
Submitted to the Graduate Faculty
of Texas Tech University in
Partial Fulfillment of
the Requirements for
the Degree of
MASTERS OF SCIENCE
Approved
Dr. Shaikh M Rahman
Chair of Committee
Dr. Eric Belasco
Dr. Emmett Elam
Peggy Gordon Miller
Dean of the Graduate School
May, 2011
Copyright 2011, Rami Elhelou
Texas Tech University, Rami Elhelou, May 2011
$CKNOWLEDGMENTS
I would like to like to thank the chair person of the committee, Dr. Shaikh M Rahman, for
his constant support and guidance throughout this research. I would also like to thank the
committee members, Dr. Eric Belasco and Dr. Emmett Elam, for their help in
strengthening this research. I also acknowledge the Faculty and staff of the agriculture
and applied economics department at Texas Tech University for their constant support,
and making my time as a graduate student smooth and memorable. Finally I thank my
family for their extraordinary support in fulfilling my wish to acquire a graduate degree.
ii
Texas Tech University, Rami Elhelou, May 2011
7ABLE OF &ONTENTS
ACKNOWLEDGMENTS ............................................................................................. ii
ABSTRACT
............................................................................................................. iv
LIST OF TABLES
.......................................................................................................v
LIST OF FIGURES
................................................................................................... vi
I. INTRODUCTION .....................................................................................................1
II. LIT(R$TURE REVIEW .........................................................................................13
III. THEORETICAL...