These sissies that deal in oil and gas futures are the real mayhems. Rather than forward pricing, would it make more sense to have spot pricing?
People cannot raise their salaries because there might be a perceived increased risk in losing a job or cost of living may go up considerably sometimes in the near future. This fears can be founded or unfounded.
Has future pricing just become an effective and poor tool to make a “fast buck”?
Check also out the World Factbook of proven oil reserves: