On Mon, 20 Oct 2008 19:21:22 -0400, "D.Duck" wrote:


"Eisboch" wrote in message
news

"D.Duck" wrote in message
...


One thing I forgot to point out is that the prices for oil you hear
quoted in the news every day are for futures contracts. And that price
is for a contract to be delivered in the following month.

When we saw those $145/barrel prices, that was for futures contracts and
I'd bet no product actually changed hands at that price. That's where
the speculators lose money.




Bingo.

Eisboch

Yeah, they didn't want several thousand barrels of oil setting on their
front lawn.

Delivered in North Sea herring barrels, in horse drawn wagons,of
course.

Casady