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Contango (as defined at http://www.investorwords.com)is "a condition in which distant delivery prices for futures exceed spot prices, often due to the costs of storing and insuring the underlying commodity. opposite of backwardation." The potential, [substantial] economic and worldwide significance of contango came to light after an [investigative] reporter did a review of contango's effect on world oil prices. That analysis can be found on NPR's "All Things Considered" dated [August 24], 2006 entitled "Analyst: Blame Investors for High Gas Prices".
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