Over the weekend, CNN published an interesting article about contango, a form of oil speculation, and how it’s alive and well despite Congress’ short-term resolve this summer to boot the price manipulators out of the market.
Interesting story about how to make money by hoarding oil, and it makes some interesting points about Congress’ apparent insincerity in dealing with oil speculators and their impact on the market.
But for Wichitans, it gets really interesting toward the end when Koch Supply and Trading comes up. The company, CNN reports, is leasing supertankers to store oil stocks it’s holding, since it’s run out of land storage.