Hi adiemuso,

My point that I want to make is why are we paying for Oil prices when we are not using 100% of the oil to produce our electricity. It has nothing to do with forward contracts definition or the hedging of risks. I don't plan to look good here anyway, since I'm ignorant on a lot of stuffs that you are talking about but you're missing my point by at least a mile. As for your comments on efficiency, does it mean that government managing it will be less efficient than being managed by free market itself? Are you subscribing to the Rational Economic Person theory whereby everyone is out for his / her own interests and the spill off / trickle down effect is that it will benefit the society as a whole?