BANKING ON TANKS

摘要

An oilfield equipment supplier is out to prove that more than two can contango. Contango occurs when the quoted futures price of oil is higher than the expected future spot price. If the phenomenon is pronounced, it drives traders to lock in the higher price and then move oil into storage, including in both the usual hubs and creative outlets such as offshore tankers. That's exactly what's happening now. But Dan Echino, president of Calroc, thinks traders shouldn't be the only ones positioned to profit by storing oil. With more than 200 frac tanks to spare on his lot in Lloydminster, Alta., Echino says anyone with land and an entrepreneurial spirit can play this game.