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The Primary Duty of the Intermediary in Internet Oil Trading and Refined Petroleum Product Deals

Sep 23rd 2015 at 2:17 AM

 

LACK OF KNOWLEDGE AND PROPER INFORMATION AMONG INTERMEDIARIES

Most experts and keen analysts of the industry often lament and bemoan one nagging fundamental shortcoming of the modern Internet-era class of brokers, agents and other intermediaries - namely, that, as a class, they tend to be overly handicapped and plagued by a general lack of education, training, knowledge and proper information concerning the true nature and workings of international trade, and of its fundamentals and basic procedures.

What Misguided Agents and Intermediaries erroneously think is "trading"

Yet, as a factual matter, most (in deed, just about ALL) brokers and intermediaries that one meets on the Internet who claim they have oil to sell, or who, for example, flood my Consultancy Office with "offers" and "deals" by the dozens every hour of the day each day, haven't got even the foggiest clue of what is actually involved in proper trading, or how it works or is done. Almost to a man or woman, they essentially think that all there is to oil "trading," is basically the accumulation of any number of some copied generic documents

A MAJOR WAY IN WHICH THIS LACK OF KNOWLEDGE BY THE INTERMEDIARY IS MANIFESTED

Quite oddly enough, one of the major but most fundamental ways in which this woeful pervasive lack of knowledge and information of the fundamentals and proper procedures manifests itself on the part of the intermediaries, is the awesome lack of knowledge among them concerning even the basic purpose and proper function or duty which the modern intermediary is supposed to serve for the oil trader and in the marketplace. Most Internet intermediaries are NOT even aware of what EXACTLY that is!

THE TRADITIONAL ROLE & FUNCTION OF THE INTERMEDIARY

First, let us start with looking at the "traditional" role and function of the intermediary in the marketplace. This description of the duties and functions of a facilitator given by Sam Nelson, the author of a noted primer on oil trading that's commonly used by many brokers and agents, best represents, perhaps, the conception of the traditional primary function of the intermediary in oil deals:

THE NEW PARADIGM SHIFT IN THE ROLE & FUNCTION OF THE INTERMEDIARY

But here's the central point to be made here, however. And that is this: That this old, "traditional" role and function of the broker or the intermediary in crude oil and petroleum products deals have changed in this current era of the Internet - and in a big, big and drastic way! And anyone who operates in the oil trade industry today as a broker, agent or other intermediary without knowing, or understanding or recognizing this critical modern-era reality, or who continues to operate as though, as in the past, all that is required of him is just to find a seller and "match" him with a buyer, or vice versa, totally misses the mark as to his proper place or function today in the marketplace, or his true market value or worth.

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