58 comments on I think Katrina and Rita got some folks attention
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58 comments on I think Katrina and Rita got some folks attention
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Very poorly is the answer. Even in mid 2004, oil contracts for delivery one year or more were actually less than the price then - which was about $35.
It appears that oil traders just project short term trends into the future.
Alan Greenspan states that long term futures contracts show that our inflation expectations are low. He's wrong, it just shows futures traders, and Wall Street in general, can't think much beyond the immeadiate future - let alone understand the long term impact of PO.