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To: stockfiend who wrote (60284)	5/4/2006 3:13:24 PM
From: ild	Read Replies (1) \| Respond to of 110194

I don't think China and Russia (governments) trade any significant amount of oil on ANY exchange. As for traders they trade where the liquidity is.

To: stockfiend who wrote (60284)	5/4/2006 11:22:57 PM
From: LLCF	Read Replies (1) \| Respond to of 110194

<The Middle East, Europe, Russia, and China, that's who. Who cares about hedge funds?> I couldn't disagree more... there is absolutely NO WAY any Western institution is going to trade there... making the assertion the Europe will quite ridiculous. It may even be illegal for European investment houses to trade such a contract given legal differences, etc. I think it's also a massive leap to think that without the buyers (US and Europe) the sellers (Opec) would go THERE to trade??? Makes no sense. So you might have China buying from Iran. I think those that think this idea might fly aren't at all thinking about the reality of trading and exchanges. Exchanges typically guarantee trades... IMHO even a Chinese company isn't going to risk having it's contracts backed by a country that might get invaded. The whole idea is quite preposterous actually. Now, why the European electronic exchange aren't already trading oil and gold in Euro's I don't know... there must be a 'hub' somewhere they could price delivery from... even if it's Amsterdam?? DAK