Word: oiling
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...fields and forests of Burma has been dismal over the past few months. Prices for rubber, a key crop, are down an estimated 75% in the southeastern Mon State. Rice has lost a quarter of its value, while maize has been cut by half. Teak, betel nut and palm oil have also been ravaged by the global drop in commodity prices, throwing millions of Burmese who barely cling to the poverty line further into distress...
...greatest threat to environmentalists right now may be not insecticides or intransigent oil companies, but indifference. According to a recent Pew Center poll, 15 percent fewer voters deemed “protecting the environment” a top priority than in 2006. Such general apathy frustrates and puzzles adherents of the green movement—all indicators, after all, point to nothing less than impending doom. They thrust forth pamphlets full of statistics (bright red), CO2 graphs (alarmingly inclined), and before-and-after images of Arctic ice caps (now you see ’em, now you don?...
Since then, future oil prices have come closer together, averaging just over a dollar between contract months over the next year, or slightly more than the $1.02 per barrel per month price tag that Morgan Stanley had reportedly been negotiating in mid-January. The apparent correction is unlikely to have been caused directly by an institution like Morgan Stanley, but instead by a perception among traders that the average $1.25 spread between monthly contracts is reasonable. Of course, leasing a tanker is an extreme measure of storage, and the cost of storing at a more traditional location is much lower...
...order to make money from the arbitrage - and consequently correct the spread - a company would need capital and storage arrangements for the oil. A firm could borrow money to buy oil in the spot market or the front-month futures contract. More money would be needed to handle margin costs of a short contract in the futures market...
Read "Is Cheaper Oil a Good Thing...