newbies and hedgeshappens every cycle, some newbie to the oil bizz wants to do away with hedges.. cuzz they know more than the ceo of course and they have no clue how fast a company goes under if you do not hedge and prices tank, as they always do in a cycle, they go up, they go down and in the end hedges are ususally a wash.. you lose on the up leg and make money on the down leg.. newbies to the bizz have no idea yet they always whine about hedges when things are good... instead of looking at the huge cash flow coming in, they cry about hedges.. it is hilarious and this occurs with every company thru every cycle.. one would think they would know better, but then some of them owned junk like ZAR was lost all their money..lol