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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Wednesday, May 07, 2008
Pennsylvania Governor Rendell Expresses Condolences on the Death of Clifford Jones
Comtex
HARRISBURG, Pa., May 7, 2008 /PRNewswire via COMTEX News Network/ ----HARRISBURG, Pa., May 7 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today issued the following statement expressing condolences on the death of Clifford Jones of Hampden Township, Cumberland County, who served under the administrations of numerous former governors and was a civic leader in central Pennsylvania:
"Cliff was the ultimate public servant who worked for the benefit of Pennsylvania citizens under six governors, in numerous roles, including several Cabinet positions. Early in my administration, Cliff headed the Governor's Action Team -- a position at which he excelled -- and helped launch Pennsylvania's remarkable economic recovery.
"His environmental advocacy earned him the Fox Calhoun Award from the Pennsylvania Resources Council in 2006 for protecting and repairing the environment. And, he was named 'Conservationist of the Year' by the Central Pennsylvania Conservancy.
"He also worked tirelessly for Pennsylvania's military installations by serving as co-chairman of the Pennsylvania Base Development Committee from 1996 through 2005. I have no doubt that Cliff's leadership on this committee was paramount to maintaining so many jobs in Pennsylvania during the 2005 Base Realignment and Closure (BRAC) process. As recognition of Cliff's service, he received the Pennsylvania Meritorious Service Medal.
"At the 108th Pennsylvania Society dinner last December, Cliff was recognized with the Society's Distinguished Citizen of the Commonwealth Award. It was a well-deserved tribute to his lifetime of service. I will miss Cliff's leadership, experience and service -- as will all of Pennsylvania."
The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit www.governor.state.pa.us.
CONTACT:
Chuck Ardo
717-783-1116
SOURCE Pennsylvania Office of the Governor
http://www.governor.state.pa.us
Copyright (C) 2008 PR Newswire. All rights reserved
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