[Peakoil] Oil Futures

[Robert Wiblin]

I've just been looking at the oil futures market. If oil is really
likely to hit $100 or $200 soon, why are oil companies willing to
deliver oil for any times in the next five years for under $80? Surely
if anyone knows the details of the oil market it is the companies with
all of the inside information. Yet they seem confident enough to sell
you a barrel of oil now, but delivered in 2011, for around $70. Can
they really be so mislead about their own position and market?

http://futures.tradingcharts.com/marketquotes/index.php3?market=CL

If famous peak oilers really believe oil will be that high, why not
put their money out there and make a fortune when their oil arrives
and they can sell it for double?

Interested to hear the response as I have been unable to answer this.

-- 
Robert Wiblin
robertwiblin at gmail.com
Ph: 0401242877
Burgmann College, ANU