Word: oiling
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...time to trade. So where do you start? With a clear idea of what you're trading: you're not trading oil. You're trading a contract obligating you to buy or sell it at a specified delivery date in the future. But don't worry: as long as the number of contracts you buy equals the number of contracts you sell, you won't have to worry about the physical barrels of oil...
...make money? If you sell oil at, say, $66 per barrel, and buy it back at, say, $65 per barrel, you keep the $1 per barrel difference. On one contract, or 1,000 barrels, that comes to $1,000. Not bad for a hard day's work. But take the other side of that trade - buy for $66 and sell for $65 - and you've lost a grand per contract. Remember that on both trades, you're going to pay high transaction fees and commissions, and you'll likely be forced to take a worse price in order to guarantee...
What, you have a brilliant plan to just buy and hold oil? Don't count on it. The bigger players know what you're thinking, and they'll drive the price temporarily down so you are forced to sell at a lower price - or risk losing more than you can afford. As the price falls, and all of the other "smart" traders around you are forced to unwind their long positions and sell oil, the price will fall even faster against you. Why would the big boys do this to you? Well, any money lost by one trader must...
...oil-futures market is a zero-sum game. When you trade oil futures, all you're really doing is exchanging cash with other traders. You're all betting with each other on the price of oil ... except it turns out that your bets, in turn, determine the price. It's a bit of a catch-22, but that's the market...
...years since, society's fear of (and fascination with) sharks and terrorism has not abated. However, we've added a handful of other apocalyptic anxieties: mass extinction, proliferating nukes, global flooding, swine flu, bird flu, peak oil, economic collapse. The end of the world has long been the subject of a popular genre of TV, books and movies. Now, in the 21st century tradition of fear as entertainment, it has its own reality show. In Discovery's The Colony, 10 volunteers are barricaded in a warehouse, without running water or electricity, to simulate surviving after the end of civilization...