Word: controller
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Dates: during 2000-2009
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...much money has piled into oil that there's a belief that there are too many people involved in the futures market. In fact, the opposite is true. The participants are so few that a couple of major players can, if they choose, garner absolute control, cornering the market and creating a price bubble for their own benefit. (Read "Oil Shocks: Biden, Iran and Fears of Another Price Jump...
...York Mercantile Exchange (NYMEX). To put it in perspective, Saudi Arabia alone produces four times that much oil. Consider the leverage that the futures market allows - you can trade more than 10 times your money in oil - and suddenly every dollar you put into the futures market controls well over $300 worth of oil. We can put a price tag on the whole market: for a mere $4 billion, you can easily control the fate of the entire multitrillion-dollar industry. Goldman Sachs pays out more than that in annual bonuses. (Read "The Reasons Behind Big Oil Declining Iraq...
...Technically, NYMEX has placed limits such that no one firm can control more than 20 million bbl. of oil. Then again, a previously unknown energy-trading company called Vitol controlled 11% of the open interest on NYMEX at one point last summer, which amounted to four times that. Around the same time, SemGroup, a large oil-distribution company, filed for bankruptcy after losing $2.4 billion on a short position that also dwarfed the supposed limit...
...easy, however, for disillusioned owners to get rid of them. Because there aren't many python-rescue agencies available, the snakes get dumped in the wild - a practice that's gotten out of control in Florida since 2000. It's a big reason the state laid down regulations last year that make it more difficult and expensive to own reptiles like these in the first place. The reptiles now require $100 annual permits and, if they're wider than 2 in. (5 cm), a microchip embedded in their skin to help owners and the state keep track of their whereabouts...
...White House, with President Barack Obama having famously spent part of his childhood in Indonesia. The country is no longer viewed as a "messy state," as columnist Tom Friedman once described it, nor is Balkanization a real fear as regional conflict and terrorism have both been brought under control. "The second term is when [SBY] will build his legacy," predicts Baswedan. "He will emerge as a global leader...