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Heating Oil Hedging, Explained

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March 2019 / The year was 1978 and I was a newly-minted bank lending officer at Irving Trust Company in Manhattan. Fresh out of high school and desperate for any type of recognition, I volunteered to join a small group of adventurers involved in introducing a futures contract on the New York Mercantile Exchange (the Exchange) to local heating oil dealers. For the uninitiated, the Exchange opened...

Slouching Towards Bethlehem

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February 2019 / The center was not holding—it was a country of bankruptcy notices and public auction announcements and commonplace reports of casual killings and misplaced children and abandoned homes as families routinely disappeared. — Joan Didion, Slouching Towards Bethlehem Sounds all too familiar as we hurtle past a dysfunctional White House and confront the major new battleground between...

They’ll Love Me When I’m Dead

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January 2019 / If you want a happy ending, that depends, of course, on where you stop your story. — Orson Welles In the world of New York City diesel-based heating oil, the story for No. 6 residual oil came to an end in 2015, while No. 4 oil will be eliminated by 2030. With that looming timetable it is surprising to learn that as many as one-third of all New York buildings are still using No. 4...

Has Finance Been Fixed

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November-December 2018 / Hard as it may be for a state so framed to be shaken, yet, since all that comes into being must decay, even a fabric like this will not endure forever, but will suffer dissolution. — Plato, The Republic Ten years on from the financial crisis (a.k.a Great Recession)—whose beginnings are officially measured from the collapse of Lehman Brothers—we need to take stock of the...

The Lies that Bind

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October 2018 / Inequality has now reached levels not seen since 1929, the year the Great Depression began, and stands to get even worse. — Chris Hughes, Fair Shot I recently attended a Community Board meeting having to do with Waterside Plaza in the Kips Bay section of Manhattan. For the uninitiated, Waterside Plaza was built on a landfill brought to the U.S. as ships’ ballast from the...

Ron Spurga, United Metro Energy Corporation

Ron Spurga, United Metro Energy Corporation

Best-selling financial author, Wall Street investment banker, social commentator, award-winning poet, energy consultant, off-Broadway producer, and community organizer in Robert Kennedy’s presidential campaign, Ron Spurga is the ultimate Renaissance Man.

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