Leon by 1938 had built a fleet of 12 oil delivery trucks and built a terminal in New Jersey.
Moreover, one might expect disruptions in oil delivery and loading in Arab ports up and down the Gulf, some because of sabotage but others from cyberattacks on the control systems.
Another example of picking customers well is a home oil delivery service that seeks to win the business of a cluster of homeowners in a specific neighborhood who need deliveries on the same day.
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Hence, if an oil delivery business can capture 100% of the business in a particular neighborhood, it will have lower costs than competitors and may choose to pass those lower costs on to customers in the form of lower prices that helps it close delivery deals with more homes in a neighborhood.
FORBES: HBS's Howard Stevenson: How Start-ups Gain Market Share
Thanks in part to the government's accumulation, spot heating oil for delivery into New York harbor is now 95.2 cents.
The price of oil for delivery in February slipped as trading began on the New York NYMEX market on 31 December.
What about the contango effect (when the price of a barrel of oil for delivery in six months is higher than an identical barrel bought on the spot market today)?
Here is the real question to ask if one suspects that speculators are driving the price of oil for current delivery above and beyond the market clearing price: Where is all the extra oil going?
FORBES: Are Speculators Responsible for Today's Higher Oil Prices?
The fact is that adaptations of the V-22 have virtually unlimited potential to improve interurban air transport, short-haul commercial delivery, oil spill containment, forest fire-fighting, emergency relief delivery, and a host of other functions.
In fact, until recently, oil for immediate delivery was more expensive than futures contracts.
ECONOMIST: The price of oil is beyond $130 a barrel. Where will it stop?
They are committed to the purchase of oil and accepting delivery.
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We start from a market in oil for current delivery that is in balance, where the price is such that supply and demand are roughly equal.
FORBES: Are Speculators Responsible for Today's Higher Oil Prices?
The argument du jour is that speculators are driving up oil futures prices, and these higher futures prices in turn drive up prices of oil for current delivery.
FORBES: Are Speculators Responsible for Today's Higher Oil Prices?
The spot market is where oil companies buy (relatively) small volumes of oil for short term delivery.
FORBES: Obama Released the SPR, and All He Got Was...Nothing
The reserve is supposed to kick in when bad weather disrupts the delivery of oil, which in New England travels by barge and truck instead of pipelines.
But California now has a low-carbon fuel standard that takes account of the amount of carbon dioxide released in the delivery of a barrel of oil to market.
Value can be created therefore by building a delivery system which can deliver oil elsewhere: which is part of what Keystone XL is about, delivering the Albertan oil to the Gulf Cost, not just to Cushing.
According to U.S. Commodity Futures Trading Commission data, the percentage of non-commercial traders (investors who have no intention of ever supplying or taking delivery of a barrel of crude oil) has grown over time, from less than 10 percent of market players by volume in 2000 to more than 40 percent in 2011.
The scramble to secure oil supplies now and into the future has contributed to the sharp increase in the price of oil on both the spot market and for future delivery.
Years later, we oversaw a similar project but in reverse: In 2008, without a government subsidy, we built a wind farm in Lubbock, Texas, to supplement at lower costs the delivery of electricity to a cottonseed-oil company.
He got out of the back seat cursing the oil industry and the whole Middle East and loaded up five repaired typewriters for delivery in Memphis.
But he says this type of freight delivery accounts for only about one percent of all U.S. oil consumption.
His two biggest holdings are AMARIN (AMRN, 15), a volatile biotech focused on combating cardiovascular disease by using purified fish oil, and DEPOMED (DEPO, 5.5) , a drug-delivery outfit.
They rarely take physical delivery of raw materials and have no effect on the actual production and consumption of metal, grain or oil.
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