Thanks for posting this @barrydutton. The idea of an oil producer locking in a future price for it's products seems reasonable, but inately in my gut, I've always despised the idea of commodities futures trading mostly because the people I've encountered who discuss it produce nothing and merely act as parasites swarming to feed off of government created trading exploits that "unlicensed" (and/or non-institutional non-bank) traders don't have regular equal access to.
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Govt's are the ultimate parasites.