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Black Gold

机译:黑金

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When Oil Prices Spiked last summer to $147 a barrel, the biggest corporate casualty was oil pipeline giant Sem-group Holdings, a $14 billion (sales) private firm in Tulsa, Okla. It had racked up $2.4 billion in trading losses betting that oil prices would go down, including $290 million in accounts personally managed by then chief executive Thomas Kivisto. Its short positions amounted to the equivalent of 20% of the nation's crude oil inventories. With the credit crunch eliminating any hope of meeting a $500 million margin call, Semgroup filed for bankruptcy on July 22.rnBut now some of the people involved in cleaning up the financial mess are suggesting that Semgroups collapse was more than just bad judgment and worse timing.rnThere is evidence of a malevolent hand at work: oil price manipulation by traders orchestrating a short squeeze to push up the price of West Texas Intermediate crude to the point that it would generate fatal losses in Semgroup's accounts.rn"What transpired at Semgroup was no less than a $500 billion fraud on the people of the world," says John Catsima-tidis, the billionaire grocer turned oil refiner who is attempting to reorganize Semgroup in bankruptcy court. The $500 billion is how much the world would have overpaid for crude had a successful scam pushed up oil prices by $50 a barrel for 100 days.
机译:去年夏天,当石油价格飙升至每桶147美元时,最大的企业伤亡是输油管道巨头Sem-group Holdings,这是一家位于俄克拉荷马州塔尔萨市的价值140亿美元(销售)的私营公司,它在交易损失上押了24亿美元,押注石油价格会减少,包括由时任首席执行官托马斯·基维斯托(Thomas Kivisto)个人管理的2.9亿美元帐户。它的空头头寸相当于该国原油库存的20%。随着信贷紧缩消除了实现5亿美元追加保证金的希望,Semgroup于7月22日申请破产。但是现在,一些参与清理财务困境的人表明Semgroup倒闭不仅仅是判断失误和时机糟糕。 .rn有证据表明工作异常凶猛:交易员操纵油价操纵短期挤压以推高西德克萨斯中质原油的价格,以至于它将在Semgroup的账户中造成致命的损失。rn“ Semgroup发生的事情是全世界有不少于5,000亿美元的欺诈行为。”亿万富翁,杂货商,炼油厂约翰·卡特西玛·提迪斯(John Catsima-tidis)表示,他试图在破产法庭上重组Semgroup。如果一次成功的骗局将100天的油价推高了每桶50美元,这5000亿美元就是世界本应为原油多付的金额。

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  • 来源
    《Forbes》 |2009年第7期|96-97|共2页
  • 作者

    Christopher Helman; Liz Moyer;

  • 作者单位
  • 收录信息 美国《科学引文索引》(SCI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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