has anybody heard this week about the reporting [and the current US Senate enquiry] of this London group that has been trading oil futures? some blogers are speculating that this is a Enron type problem of global proportions. ICE are the traders [hedge funds and oil trading banks] responsible for the current price per barrel and why OPEC has lost pricing control. the Saudis recently announced they are doubling production to flood the market. this is a really interesting story only just recently becoming news.... fuel prices will be on the way down soon, if not already.
Power & Motoryacht’s Editor-at-Large Capt. Richard Thiel, who steered the direction of the magazine as Editor-in-Chief for 25 years, passed away recently. Now Executive Editor Capt. Bill Pike shares memories of his colleague and friend.
Read what he had to say here. ▶