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Old February 28th, 2013 #41
Leonard Rouse
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Leonard Rouse

Originally Posted by John from Canada View Post
You're just babbling Leonard. I have already pointed out that the vast majority of futures contracts are speculative. Due in part to the fact that only a small amount of oil is actually traded in these markets.

Nonsense. The point of having a benchmark is to account for variations in quality and processing costs in oil from different regions. The problem with trading only a few preferred grades of oil is that it creates a shortage where none exists.
The difference between us is that I come with facts and you come with conjecture. Cite your sources. Provide some data.

Otherwise, you're just another religious fanatic.