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’Presenting, the ‘physical loophole’
First there was the London loophole. Now, it appears, the development of another entirely new loophole is underway. Let’s call it the physical loophole.
From Intercontinental Exchange CEO Jeffrey Sprecher’s Tuesday testimony to the CFTC on the matter of position limits and the influence of speculators on the price of commodities:
Lex: BP
The oil giant’s numbers look good at first glance, but upon closer inspection there is still much work to be done.
It all looks fairly rosy, until you peer more closely into the numbers. The challenge that BP faces is common to all oil companies:
Energy crunch time
The International Energy Agency has posted its recent report on the impact of the financial crisis on global energy investment on its website. The analysis was first submitted to the G8 Energy Ministerial meeting in Rome last weekend,