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Good article, you are right, filler up. I remember when gas was over $4 a gallon and oil around $140 everyone was talking about how much money the government had made by buying oil for the SPR at an average cost of about $60 a barrel. Again hindsight is 20/20.
Nov 14 08:44 am
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All Comments by long_on_oil »Time to Fill Up on the Strategic Petroleum Reserve [View article]
If all the major users of oil are buying futures contracts then the price has to have a bottom right around the corner. I remember how smart UPS and Southwest Air were suppose to have been during the last crisis because they had hedged. Any major user of gas or oil has to be hedging now as far out as they can get. If they are not then fire the management.
note CHK is the symbol for chesapeake.