No one talks about the financial side of the disaster such as commodity trading. Essentially, traders buy and sell commodities hoping to score big on disasters. In this case, (((hedge funds))) that owned electricity contracts were in a position to profit handsomely when the grid became stressed. This meant their contracts could be sold for higher and higher prices.
Commodities should not be traded multiple times for this very reason. All it does is to raise commodity prices. There is no value in trading commodities multiple times other than gambling.
No one talks about the financial side of the disaster such as commodity trading. Essentially, traders buy and sell commodities hoping to score big on disasters. In this case, (((hedge funds))) that owned electricity contracts were in a position to profit handsomely when the grid became stressed. This meant their contracts could be sold for higher and higher prices.
Commodities should not be traded multiple times for this very reason. All it does is to raise commodity prices. There is no value in trading commodities multiple times other than gambling.
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