[Marxism] Going/Coming Around

[S. Artesian]

Financial Times  August 6, 2008

Producers scramble to lock in oil prices


Crude oil and natural gas producers are scrambling to "lock in" prices by 
buying insurance against further drops as oil yesterday hit a fresh 
three-month low of $118 a barrel....

In the options market over last week, for every buyer of insurance against a 
rise in prices in 2009 there were almost 10 buyers of protection against a 
fall.

Traders said strong buying of put options-- contracts that give holders the 
right to sell crude oil at a predetermined price and date-- might be 
exacerbating the fall in oil prices.

The options' originators, such as Wall Street banks, need to sell future--  
pushing down prices-- to hedge their portfolio positions...

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