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20 August 2008


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m savoca


to amplify the point, the dollar amount of oil futures trading is about five times the actual dollar amount of oil that is produced and consumed.

most futures contracts involve traders who neither produce nor consume and they try the best they can to trade the contracts to actual users prior to expirations

when they cant, a small percentage of the time, actual storage may become necessary



Dear Col. Lang: this is to draw your attention to the NYT story:


that begins

"BAGHDAD — The Shiite-dominated government in Iraq is driving out many leaders of Sunni citizen patrols, the groups of former insurgents who joined the American payroll and have been a major pillar in the decline in violence around the nation."

Seems like the Iraqi govt is determined to unravel whatever measure of peace has been secured there. I hope that you write about it.


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