[Peakoil] Oil Futures

[Leigh Kite]

You don't know what's going to happen or who's going to right.

If the oil companies actually believe their own bullshit about being able to 
keep up with world demand then they'll go on selling futures for $70 to $80 
I guess.

As far as peakers investing in oil futures goes, I can't think of anything 
more shameful.  We're here to solve the problem, not profit by it.

I'd be investing in alternative energy companies and projects, they're the 
ones that need our financial energy.

Cheers,

Leigh

----- Original Message ----- 
From: "Keith Thomas" <keith at evfit.com>
To: "'Peakoil Discussion'" <peakoil at act-peakoil.org>
Cc: "Robert Wiblin" <robertwiblin at gmail.com>
Sent: Saturday, August 12, 2006 5:56 AM
Subject: Re: [Peakoil] Oil Futures


> On 11/08/2006, at 1:48 PM, Robert Wiblin wrote:
>
>> 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
>
> I'd guess this is how Matt Simmons made his millions. It's also my guess 
> that lots of others are doing the same. Considering the high oil input in 
> agricultural products, many will - for the same reason - be investing in 
> wheat (etc.) futures as well Do you have any evidence that they are not?
>
> Some peakists predict a degree of economic collapse; for these people 
> investing in any sort of futures for, say, 2011, is also betting on the 
> stability of the world economic system and the ability to enforce 
> contracts in 2011.
>
> These are just my observations - interested to hear the views of others: 
> Alex? Antony? Leigh?
> --------------------------------------------
> Keith Thomas
> www.evfit.com
> --------------------------------------------
>
> _______________________________________________
> Peakoil mailing list
> You are subscribed as lkite at tpg.com.au
> http://act-peakoil.org/cgi-bin/mailman/options/peakoil/lkite%40tpg.com.au
>
>