On Mar 9, 2011, at 9:32 AM, Shane Mage wrote:
> In other words, since beyond "speculators and financial investors [but what can it possibly mean to be a "financial investor" in a commodities market?]" there are only hedging producers, in the relatively near term all that pre-sold output can be expected to show up in the market, driving down prices. Who has a better view of future oil market conditions--financial speculators or producing cartels?
Neither has any damn idea.
Doug