Stop Counting On Oil Contangos

By Dan Dicker In early 2009, I did a segment on CNBC with Erin Burnett and the late Mark Haines, pointing out a way for us to band together and make some serious money. I proposed we find the funds (or the financing) to buy currently priced oil on the physical markets, trading somewhere in the mid 30’s, and then selling the futures about six months out, which were trading for nearly $15 dollars a barrel more. A simple idea – we would store the oil, pay the fees, and deliver at the futures price later, banking about, I estimated, 11 dollars a

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