Word: oiled
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Compared with those experienced players, Chinese manufacturers are like teenagers just getting their car keys. When it comes to electric, though, that could be an advantage. Beijing knows that promoting electric vehicles could be a way to stem the country's rising dependence on foreign oil and clear its polluted air. At the same time, Chinese battery companies like Lishen and Shenzhen-based BYD are looking to leverage their technology and leap into electric cars. Foreign automakers may have a century-long head start on conventional cars, but Chinese companies can compete on new electric technology today - on cost...
...once you've got your hunk of hog, it's a few simple steps to that sublime summer treat, the BLT. Just add sugar and spice, smoke, an heirloom tomato, fresh lettuce and homemade bread slathered with Farr's bacon mayonnaise - made not with olive oil but bacon...
That's no reason to party. Here's why: unlike the global crude-oil market, the market for natural gas is incredibly localized. The U.S. produces nearly 90% of what it consumes, and the rest is imported from Canada or from overseas - the latter amounting to only about 2.5% of U.S. consumption. Thus, a glut of domestic gas doesn't really affect imports...
...quickly expand gas consumption. At this stage, anyone who can use natural gas instead of crude oil is already burning gas, as the price goes lower still. There is really only one other form of energy that natural gas will replace - coal. Yes, in some geographic areas, it is currently cheaper to use natural gas than coal. Shocking, right...
Just as in the case of crude oil, supply and demand do not paint the full picture. As of Aug. 24, the U.S. Natural Gas Fund, an exchange-traded fund listed as UNG on the NYSE, held about 10% of the contracts in the October 2009 futures market traded on NYMEX. Combine that position with its over-the-counter swap holdings, and UNG held the equivalent of more than 50% of the October contract's open interest. In following its plan to buy and hold natural gas, UNG keeps rolling its position into the next futures month. In other words...