Oil for Delivery in 5 Years Rises on Supply Concern

Oil traders are paying record prices to get crude almost five years from now, reflecting increasing doubts the oil boom will go bust.

….“It’s meaningful that there are people who are prepared to buy oil at that price” for delivery in 2010, said Ian Henderson, who manages $1.1 billion in JPMorgan’s Natural Resources Fund in London, which had a return of 50 percent last year. “It’s almost politically unacceptable to admit that supply isn’t going to grow as fast as demand, but it’s already doing that.”
Bloomberg