Word: profiteered
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...problem. The futures market that serves as a price discovery mechanism for the physical oil market is open only to the elite. We trust these elites to determine the prices, but who are they? Who are the so-called experts? Hedge funds, oil companies, OPEC - the very people who profit from massive, consistent increases in prices. Notice a conflict of interest...
...quoted price at a specific date in the future, usually months in advance. Such a contract allows companies to hedge positions by locking in prices early. Airlines might buy futures contracts to reduce their exposure to rising fuel prices. Conversely, oil companies might sell futures contracts to assure a profit against future price drops. It's all about reducing risk and uncertainty. But what if oil suppliers were instead buying oil futures, compounding their own risk and reaping enormous profits from the explosion in the price of physical...
...every oil supplier's best interest for prices to go up. Oil is a finite commodity. The world will eventually become more efficient and develop alternative energy sources. In the meantime, suppliers want to squeeze out as much profit as possible from their limited resources. Even if they know that the price of oil is too high (to the point of reducing demand) it is not in their interest to correct it. By setting prices in the smaller but more "trusted" futures market, oil producers realize multiplied gains on their physical oil sales...
...Interpol request to Australia to interview the Queensland authorities and the couple who adopted Zabeen. CBI sources tell TIME the investigation in Australia will also attempt to discover how much money was paid to MSS: kidnapping a minor is seen as a far more serious crime when the perpetrators profit from it. The CBI believes Australian parents were tricked by MSS and will face no charges over their adoptions, but insists that the biological parents should be allowed to see their children again in India. "When she knows that she has her parents here, I'm sure that she will...
...house in Columbus. At first the match seemed perfect. Brian Testerman, 25, and Collin Nailor, 24, had known each other for six years, and both saw the house as an investment: they'd buy a fixer-upper, live in it during the renovation, then sell for a profit. The problem is, 11 months into home ownership, Nailor wants to move to Chicago, where his girlfriend now lives. Testerman thinks it's ridiculous to sell so soon; work hasn't even begun on the kitchen. "I'm stressed out," he says. "Going home is uncomfortable...