The shape of the curve DOES depict accurately the storage balance over time. You seriously are not debating this are you?
Forward pricing in energy futures follows Woking's (1934) theory of cost of storage. In other words, the forward price of oil represents the capital cost and the cost of storage for storing oil from time t to T.
Are you serious? Going forward I suspect on dependence on fossil fuels will diminish with time and the higher oil goes, the cheaper the substitution effect. ,
Dude, for fucks sake. I'm not talking about Shell. The big 4 are in the business of optimizing assets. I'm talking about the trading houses! You recognize those names right? Glencore, trafigura, Vitol, Gunvor? They are the aggressive speculators, not Exxon. The 4 firms I just named are blowing the back door out. And you claim to be in the industry and yet you do not know that?
He said physical traders not physical producers. Yes sometimes there's overlap but the intent was clearly on the large physical PLAYERS aka Vitol, Glencore, etc.
I'm talking about the trading houses! LOL. For God's sake. These firms are aggressive traders AND they hold physical assets. The assets you "claim" are trivial information. LOL.
Of course it has predictive value. What the f*ck do you think an energy analyst does for a living? LOL. I can't wait to hear this answer.
To dispute every factually incorrect thing you posted which was everything. Christ man, you are making me work hard here fact checking your shit.