Blue Dolphin Energy Company (BDCO)

[snow]

RD I agree that the intention of hedning normally is to reduce risk. But when the net result is a huge loss I don't regard it as reducing risk. Risk would be reduced by buying and selling product based on the prices as they develop. This has not been the case here. If it only had been selling for a crap spread of 20 dollars per barrel there would have been a reduced profit. Instead there is a huge loss. In my book what has happened here is rank speculation.