Following up on this morning's "Schork on Peak Oil, The Mob and Monty Python".
From the CME
Dec 2013 94.10
Dec 2014 91.39
Dec 2015 86.58
Dec 2016 83.62
Dec 2017 81.90
It looks like four months of mild contango followed by years of some pretty steep backwardation.
Got that? You can contract today to buy CME WTI at under 82 bucks four years from now.
