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Erschienen in:
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2014 | OriginalPaper | Buchkapitel

9. Hedging and Speculation: A Discussion on the Economic Role of Commodity Futures Markets (Including the Oil Markets)

verfasst von : Hilary Till

Erschienen in: Perspectives on Energy Risk

Verlag: Springer Berlin Heidelberg

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Abstract

In the United States, there is a rich historical experience with controversies over futures trading that date back to the nineteenth century. After a brief recounting of history, this chapter notes that a review of U.S. history provides valuable lessons in figuring out what is necessary for commodity futures trading (including oil trading) to continue and prosper during times of political pressure. Essentially, one finds that the following actions have been indispensable in responding to past controversies over futures trading: (1) an increase in transparency in showing how these markets actually work; and (2) an improvement in public education on the economic usefulness of commodity markets. This chapter endeavors to help in providing precisely that education.

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Fußnoten
1
“Spare capacity refers to production capacity less actual production; it quantifies the possible increase in supply in the short-term,” explains Khan (2008).
 
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Metadaten
Titel
Hedging and Speculation: A Discussion on the Economic Role of Commodity Futures Markets (Including the Oil Markets)
verfasst von
Hilary Till
Copyright-Jahr
2014
Verlag
Springer Berlin Heidelberg
Buch
Perspectives on Energy Risk

Print ISBN: 978-3-642-41595-1

Electronic ISBN: 978-3-642-41596-8

Copyright-Jahr: 2014

DOI
https://doi.org/10.1007/978-3-642-41596-8_9