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A futures contract is an agreement to buy or sell a predetermined amount of a commodity on a specified date.
The stage of the speculation that is alarming Washington is the commodity futures market, which trades a financial derivative called a futures contract, an agreement for the future delivery of a fixed amount of a commodity at a certain price.
One of the transactions investigators are looking for in the industry is so-called round-trip trading, in which companies simultaneously buy and sell the same amount of a commodity at the same price.
The basic idea is that people will be richer in the future as economies keep growing, so a given amount of a commodity or money will have less value than it has now.
A steady, unfluctuating supply also is needed; this is referred to technically as "low elasticity of supply," meaning that the amount of a commodity that producers supply to the market is not much affected by the price at which they are able to sell the commodity.
A futures contract is an obligation, on the part of both buyer and seller, to transfer a certain amount of a commodity or financial abstraction (like the value of a stock index) on a particular date.
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While this can stop hydrates and wax, it requires a massive amount of electricity-a commodity that's not cheap on the open sea.
The net effect of these deals was that the entire trading effort was a circle, with Enron ultimately being the shipper and receiver of the same amounts of a commodity, due at the same price on the same day.
Politics, race, history and violence thrive in the plot lines of Game of Thrones, which also features large amounts of a commodity that has rarely driven audiences away – sex.
A futures contract is a promise to buy or sell a certain amount and quality of a commodity at an agreed price within a certain time.
Perhaps it controls large amounts of a critical commodity (Saudi Arabia).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com