It’s been awhile since we chatted about commodities trading, and the bald-faced manipulation of energy commodities by those in position to profit the most from any inexplicable rise in prices.
But, our pals at Goldman Sachs have given us a reason to bring the subject up again, courtesy of this MSNBC story.
Seems that they’re doing their best to prop up the sagging price of natural gas, with a baseless forecast that natural gas prices could triple this winter. Sort of the “Meet my wife, Morgan Fairchild. Yeah, that’s the ticket” shtick, commodities-style.
Read very carefully the recap of natural gas market fundamentals that follows in the story: There’s NO reason whatsoever that the price should rise. A bit.
Except, of course, for commodities traders, investment houses and financial voodoo – including a figurative yell of “fire” in the trading theater.
Update: An energy icon says oil and natural gas prices are headed down.