ATR Core The Advanced Test Reactor at Idaho National Laboratory uses plate-type fuel in a clover leaf arrangement. The blue glow around the core is known as ...Most Crude Oil And Petroleum Product Sellers, Brokers and Brokers, within the International “Secondary” Oil Market, Do not Make Any Gross sales Or Earnings. Do You Ever Surprise Why?

A serious “HIDDEN SECRET” OF OIL SELLERS & BROKERS: MOST Don’t MAKE ANY Gross sales or Revenue

CBSE NCERT solutions for class 8 Science download free study materialCrude oil and petroleum products sellers, and their brokers and agents, who operate within the so-called “secondary market” of the international oil market at the moment, don’t often speak about this, or like to take action. Or like the fact about this to be recognized. In deed, many of them would fairly that it be saved obscured, or simply misrepresented. However, the actual fact is that one distinctive part of their business “actuality” is that this: as a gaggle, they frequently shut no deals nor make any gross sales for the oil product they purport to have accessible to sell, and, in reality, the vast majority of them typically go for months, even years, or maybe for ever, without ever landing even a single sales contract or deal. It is probably what would possibly merely be referred to as “the open secret” of the oil selling industry!

C. Keila Nakasaka, a California legal professional and real property investor and entrepreneur, who conducted extensive market analysis and investigations into the D2 diesel oil trade to see if he may prudently advocate taking over the fee broker’s job to his shoppers, says he got here away from his analysis vastly disillusioned and upset. In accordance with him, the “tales that these brokers concoct are that the seller has some direct reference to a refinery. Some even declare that the vendor is, actually, one of many main vitality companies in Russia… [however] what bothered me [the most] is that nearly each one of these brokers did not be forthcoming. They often misrepresented themselves as mandates, direct representatives, and even buyer and sellers.”

Probably the principal and most delicate factor about which most such sellers and intermediaries (the brokers, facilitators, mandates, brokers, and so forth.) are least “forthcoming” and “misrepresenting” about, is regarding the number and volume of gross sales offers they’ve ever closed, if any, or the revenue they’ve earned within the trade, if any. Simply put, almost all of these operatives generally shut no deals, and earn almost nothing. Most of them go for months, even years – or eternally – without efficiently closing any sales offers, not to talk of incomes even a dime in fee earnings!

As Nakasaka put it, describing his findings: “One other issue which I thought was odd was that many of the brokers I spoke with by no means closed a D2 deal regardless of their months and sometimes years on this enterprise. There was one broker who claimed that he had pending offers, and two who stated that they did in actual fact close these deals. However, I didn’t discover them credible.”

Major Causes FOR THIS, WHICH ACCOUNT FOR WHY MOST “SECONDARY MARKET” SELLERS & THEIR INTERMEDIARIES Never Shut ANY Offers

Why is this so – that they make no gross sales or income? Many components account for it. They may roughly be summed up as follows:

1. MOST SELLERS (and their intermediaries) ARE Faux, ANY Means, WITH NO CRUDE OR OIL PRODUCT TO Sell

A reality that’s by now effectively-established and never topic to any disputation in any respect among credible experts in the trade, is that the overwhelming majority of selling offers peddled by crude oil and petroleum product “sellers” in the so-referred to as “secondary” oil markets, and their brokers, brokers, and different intermediaries, are fake and bogus. In deed, some objective studies and analysis have put its extent at a whopping stage of some 99.999999 percent of all affords presented for sale. Most likely the only factor of much redeeming worth that could be acknowledged about this, is that with explicit respect to those who act as international brokers and intermediaries within the enterprise, some of them could usually be engaged fraudulently in the enterprise however innocently and unwittingly, mistakenly believing that the deal or promoting operation is authentic and reputable, when it really is not.

2.LACK OF Correct Coaching, Abilities OR Knowledge IN The fundamentals OF THE Business

Put very merely, perhaps nowhere is the saying that “we reside in a wide interconnected world” extra relevant right this moment than on the earth of the international buying and selling of crude oil and petroleum products. For essentially the most half, just about all that one needs in order to grow to be a “vendor” of crude oil or petroleum product, or his agent, reliable or not, who’re working out of any part of the world, is simply to have an entry to a pc and an Internet connection. That is just about all! Unfortunately, nonetheless, one dire negative impact of this so-referred to as “revolution of the Internet” (among many others), has been that many who now claim to be, or function as, “sellers” or the sellers’ “brokers” or “agents,” are largely uneducated or semi-illiterate, untrained and unskilled, and are lacking in any data of the correct fundamentals of international oil buying and selling.

Kamal J. Southall, one of the foremost experts on the subject, whose book, “Commerce Fraud, Financial Fraud, and the Joker Broker,” is probably the most authoritative texts on the phenomenon, places it this way:

“Have you ever seen that as you’ve got searched Google and libraries, and regarded excessive and low, finding bits of knowledge here and there, you encounter interesting phenomena: very little practical info on the artwork and science of dealing in Worldwide commerce as an impartial trader exists in any complete manner. Sure practices, paperwork, and procedures; mysterious acronyms similar to “NCND” or “MPA,” are thrown back and forth, badly corrupted mannequin documents and kinds might filter your means, however the fact is that most attempted residence primarily based traders, brokers – or, more properly, intermediaries – study by means of extremely costly ‘trial and error,’… often re-inventing the wheel every time, in that ever-elusive seek for a deal and information on how to shut that deal.”

Southall estimates, citing another knowledgeable’s calculation, that out of some one million individuals currently attempting to make it as brokers or commerce intermediaries on this planet, “perhaps not more than 1% has the coaching and skill wanted to ever shut a deal… [meaning that] the overwhelming majority, are trading blindly, [therefore] offers are collapsing… and more to the purpose, [oil dealers are] being defrauded – generally massive..”

Mr. R. Ambardar, a broker of over 10 years of broad experience in worldwide market growth and advisory companies, calls “lack of experience and knowledge” one of many principal the explanation why many brokers and facilitators fail in crude oil endeavors. “Many persons are attracted into this enterprise because of [the tales they hear concerning the] type of money one can earn on account of profitable offers. Many brokers fail, [nevertheless], to know that requirements to succeed on this enterprise are very demanding, [and that] Only these who have years of hands-on experience and thorough knowledge of the industry can strive to do properly as middle-males.”

A terrific many variety of brokers, Ambardar provides, neglect that “To grow to be a ‘Facilitator’ in oil enterprise,… what you really want is true knowledge and experience [since that is what will assist] you hook up genuine buyers and sellers. One should be within the industry for long to have acquired knowledge related to the dynamics of this business.”

Consequently, one fundamental manner during which this common lack of competence or data about the fundamentals of the oil trade manifests itself, is in the inability of the common person among the string of brokers and agents and intermediaries that operate in the trade, to craft good offers and successfully close sales deals even after a number of months or years within the business.

3. BYE And large, MOST BROKERS AND Brokers Learn THEIR CRAFT FROM THE Web, AND THIS HAS SOME Serious DRAWBACKS

There is, for the common contemporary seller’s agent or broker, one different critical shortcoming and unfavorable consequence that emanates immediately out of the truth that the primary source of their training and training by which they study the workings of the oil trading business, is basically the Web. Once more, Kamal J. Southall sums up these destructive penalties this manner:

“The expertise in recognizing a questionable trade lead or tender request from a robust one, is usually lacking by way of the Web, [and] there is no important filtering of the leads you find yourself studying. Something that may be put on the market, is put on the market, from the real to the questionable, to the fraudulent. Moreover, the character of the “broker community” is such that information is commonly passed about with little important filtering, lack of data of proper trading procedures and the final tendency of knowledge to change into corrupted because it trades hands, [and this] leads to dangerous outcomes.”

4.Long STRING OF BROKERS, Agents AND MIDDLEMEN, MOST OF WHOM UNDERCUT Each other.

Partly as a result of the virtual lack of any goal requirements for qualification as an agent or middleman in the commerce, and the convenience of entry into it, these operators typically are likely to function in a climate of little or no guidelines or requirements, and of free or no ethics, wherein the “dog eat canine” mentality seem to prevail – a climate during which each broker, agent, or mandate, being solely selfishly concerned with just his personal personal good points and self-curiosity, is continually making an attempt to undercut and circumvent the other in offers. Thus, often leading to the final word detriment of All the parties involved in a proposal, as ALL of them, as a whole, and not only one celebration or the other, invariably wind up the losers since NO deal at all is had with any purchaser.

“[One] reason why it is troublesome to ascertain the reality [regarding the oil product market],” reported C. Keila Nakasaka, the California attorney and entrepreneur who investigated the industry in 2010 for possible recommendation of the commerce to his clients, “is that there are a number of brokers concerned in any given transaction; and they’re all afraid of circumvention. Hence, it’s nearly not possible to know the top purchaser or vendor. Now, I understand that sometimes it requires teamwork to put a big transaction collectively, however what bothered me is that nearly each one of these brokers didn’t be forthcoming. They typically misrepresented themselves as mandates, direct representatives, and even purchaser and sellers.”

THE “JOKER BROKER” CHARACTER

Certain, admittedly, there’s no question that the phenomenon of getting a lengthy string of players, together with brokers, agents and intermediaries, in a business transaction, is a necessary side of international business. Much more so, especially, in in the present day’s Web world wherein we’re all so interconnected globally. Actually, in oil sales transactions, it ought to come as no shock or anything unusual to anyone that such operations, as a result of they often are inclined to contain enormous sums of money and elaborate logistics, would generally require teamwork to put the transactions together. And hence, ought to generally contain a a number of variety of parties – traders, agents, intermediaries, brokers, mandates, patrons, distributors, and many others – to conclude a deal. Nevertheless, what’s completely different right here, is not so much the fact that within the Web crude oil dealings one encounters a string of too many brokers and middlemen. Rather, it is the very fact that the majority of those brokers and middlemen or intermediaries that get entangled in it, usually act and behave within the detrimental manner of what is understood because the so-called “Joker Brokers.”

As Kamal J. Southall put it, “However the experience of the underground string of international brokers buying and selling meaningless presents and circumventing each other, left and right, illustrates nicely the term “Joker Broker” and resembles, often, a Zoo full of monkeys.”

Including that “the character, [which is] typically scorned as ‘the Joker Broker,’ is one factor most people encounter in a short time in their forays into the world of trading,” Southall, the creator of a basic on the “Joker Broker” character, offers a definition and rationalization of the essence of this “Joker Broker” behavior, this way:

“Outlined in the first occasion as a bit of a time waster, the joker broker is a person who knowingly or unknowingly peddles and plies deals and merchandise that, within the overwhelming majority of situations, are non-existent, or badly outlined. Characterized by a tendency to bluff his way through transactions, the Joker Broker is one… [who goes about] plying deals often involving a string of brokers from one finish of the planet to another, and but not a single one has verified the very existence of the products at hand.”

.One significant results of this?

With a multiplicity of brokers and chain of agents typically concerned in a commerce, and every get together working selfishly and undercutting and sabotaging each other in a working surroundings during which each party is untrusting of the other in a transaction, and is frightened of being circumvented by the other; most offers which the “secondary” market sellers and their brokers and agents undertake, are mechanically doomed to failure, even from the very starting. And often do fail.

5. PERVASIVENESS OF “The Joker Broker” MENTALITY Among the many Web BROKERS, Agents & Different INTERMEDIARES

However, probably the most fundamental and central factor which accounts for why most intermediaries concerned in the “secondary” oil market are usually not able to, and don’t, shut any sales offers or earn any revenue or commission as brokers and agents even after several months or years of peddling their oil product, may merely be condensed into one broad time period: particularly, the highly effective pervasive grip that the “The Joker Broker” mentality has come to have on the brokers and agents, most of whom in the present day are merely Web-based mostly brokers and brokers.

What Is supposed by this?

Put very simply, many brokers and agents, pushed and restricted by the fact that they often lack much coaching or data in the fundamentals of worldwide trading, and by the very fact, in immediately’s Internet era, that their solely “qualification” for assuming the mantle of being a “broker” or “agent” within the oil business, is just that they’ve an entry to the Web and a computer, typically behave of their conduct of the oil promoting operation, in a fashion that “resembles, usually, a Zoo filled with monkeys” – in the phrases of Kamal J. Southall, the author of a traditional on “‘the Joker Broker” character. A typical characteristic of these brokers and brokers, is that they peddle, knowingly or unknowingly, crude oil offers and merchandise that on the face of it, are in most situations seemingly non-existent or questionable, or at the very least badly defined, whereas but acting as though all is well with the product they offer, and that there’s absolutely nothing for the prospective buyer to worry about regarding it. They’re largely blinded by greed and false perception that they “are going to be super wealthy subsequent week or subsequent month” by doing nothing, aside from, just shoving round a few copied paperwork on the internet normally passed down to them from other jokers, none of which any of them has normally verified as to the very existence of the goods they purport to be promoting.

Apart from the truth that a good lots of them would, whether or not they do it knowingly or not, frequently try to push fake offers on the web, they often act out of many misconceptions and beliefs that are merely not true, often passed right down to them from other jokers. Many occasions, mainly involved with “making a fast, quick buck,” they’re innocently and naively trying to shut a deal for someone who they believe or merely hope to be real, however who’s, in actual fact really not. But oftentimes, they’re too proud or conceited to simply settle for or concede that their own beliefs and procedures are simply incorrect, refuse to change their ways, and continue to waste their time and others’ time for months and years still trying to push offers – till, maybe, it finally begins to daybreak on them that for therefore lengthy no deals have been closed, or are prone to be closed, and never a dime of earnings has been, or would be, earned!

However above all else, perhaps the most detrimental factor that results in the lack of enterprise or income for most “Internet” crude oil brokers and agents, is the fact that, lacking much expertise or real understanding of the true workings of international business or the best way it really works, they are often totally unrealistic and impractical about the situations and necessities they demand of, or count on that, potential buyers would accept so as to buy the products they purport to have for sale. That’s, they often current sales offers and proposals which can be so impracticable, unworkable and outrageously unreal, and are totally contrary to the best way regular and authentic enterprise has historically been achieved in the true world.

As one analyst put it, “Some of them [the “Internet” brokers or joker brokers] are quite entertaining [within the notions about enterprise workings they present], and remind us of the Nigerian rip-off artists. The world merely does not work like that.”

Example OF JOKER BROKER Provide THAT Can’t WORK

The following is an effective instance of the Joker Broker-kind of supply that the oil sellers and their brokers and brokers, most of whom operate principally online as we speak, usually demand of intending buyers. It is introduced within the type of the transactions PROCEDURES they demand that the would-be oil purchaser ought to meet and observe, equivalent to these:

TRANSACTIONS PROCEDURES:

1) The Buyer submits ICPO (Irrevocable Company Purchase Order) & banking particulars
2) Seller points FCO (Full Company Offer) on his letterhead with full contact particulars.
3) Purchaser returns the FCO duly signed and stamped.
4) Seller and buyer sign contract.
5) Vendor and buyer exchange the Proof of Product (POP) and Proof of Funds (POF) in the next sequence/order:
6). First: Seller points POP to the buyer. Second: After purchaser verification and within 7 banking days, purchaser’s bank issues POF to seller’s financial institution.
7) Patrons bank opens non-operative Letter of Credit (L/C) to vendor’s bank/or Financial institution Assure (at vendor’s alternative).
Eight) Vendor points 2% Efficiency Bond (PB) to activate L/C.
9) Shipment commences as per the agreed contract.

TO At this time’S Buyers, That is WHAT THESE PROCEDURES ARE SAYING TO THEM

In point of fact, truly the procedures such because the above-outlined, are “standard” and should, in Regular and proper circumstances, ordinarily be a workable and acceptable set of terms and situations or necessities for a credible potential buyer to do business by. Nevertheless, here is what brings about the massive distinction here: there is one very critical and basic issue that’s grossly missing here. And that is that this: usually, such offer requiring the intending purchaser to adjust to these procedures, is made, NOT by or from by a known or established or even readily identifiable individual or entity, or essentially by an Authentic crude seller or provider. However merely by an Internet “seller.” It is usually introduced by somebody who merely writes (or phones) and claims, often through some Internet connection or communication (a portal, email or website), that he is a crude “vendor,” or the broker or agent of one, who supposedly has some oil out there to sell. And it is typically presented by someone who, invariably, would current virtually no tangible evidence or proof in anyway establishing his (or her) bona fides and credentials as an genuine seller, or an intermediary of one, nor reveals any real monitor report of having previously performed in the crude oil selling enterprise, or any other products.

Thus, in effect, what is essentially taking place here, is that a set of properly-which means procedures which have legitimately been designed by the business professionals to be utilized by Legit crude sellers, and have traditionally been used by Dependable and respectable crude sellers and buyers alike to do enterprise, have immediately been hijacked by a new breed of “Web” brokers and brokers – Joker Brokers – who now demand that prudent crude patrons are to adopt precisely those self same procedures in transacting business with them! To put it another manner, were these Internet brokers and crude “sellers” to have been some of the so-called oil Majors – equivalent to Chevron, Valero, Shell Oil, Exxon Cellular, British Petroleum, Total Oil, etc. – that means firms and enterprise entities which are effectively-known, already established, readily recognizable, respected and trustworthy, there would have been completely no downside or question concerning the crude patrons utilizing these “customary” procedures and situations set forth above in doing enterprise with the Web sellers and brokers. Nevertheless, that’s not the case all, here. Moderately, quite to the opposite, these Web-type brokers and brokers (and the purported sellers whose affords they peddle), are largely Web-based mostly; and are usually obscure operations, or even non-existent, with no recognized identification, no recognized base of operations, or established record or history of previous performance as crude sellers.

WHY THE Web BROKERS’ PROCEDURES LARGELY Don’t & Cannot WORK WITH Consumers

But, that is, in the overwhelming majority of instances, the form of supposed crude “sellers” who need and ask that may-be consumers ought to be submitting to those self same procedures and conditions in coping with them. Clearly, that’s a ridiculous “Joker Broker” kind of day-dreaming – virtually no credible crude oil purchaser wherever on this planet would settle for to submit an ICPO (Irrevocable Corporate Buy Order) to a mere unknown, unproven, dubious Web “seller” of crude oil to solicit enterprise with such an entity. And definitely, no credible crude oil purchaser anyplace on the earth would accept to submit its Proof of Funds or financial and banking details to such an entity, or to even signal a contract with it – an entity about whom it knows practically nothing, and whose bona fides, credentials or existence as a supposed crude oil supplier, is basically dubious and unestablished.

A serious, well-identified, recognizable, or respected entity or crude seller, yes. But NOT an obscure, dubious, unknown entity, largely existing merely on the internet.

Analysts at the JokerBroker.com website, which is a site devoted to extensive compilation of a database of essentially the most notorious “Joker Brokers” individuals and firms, sums it up this fashion, describing why most credible crude patrons would usually reject accepting such procedures and conditions typically demanded of them by Web brokers, outright:

“When a deal starts off with “send ICPO with BCL or Gentle Probe, [POF], NCND and IMFPA,” that is “broker language.” Those who know broker language know what this implies: “I am a joker broker. I don’t have any real product on the market, and that i don’t know anyone who has any, so I want you to provide me an Irrevocable Buy Order together with your full monetary details disclosed, so I can run round with your order and your cash in my arms in search of product, and the following thing you see will probably be your company and banking particulars exposed to the entire world, working around unsecured on the internet between hundreds of other joker brokers.”… That is what this language means. I recommend you be taught the language, and please don’t ship me even one “deal” which starts off with this procedure. Please just put them straight into the rubbish bin, which is precisely where I put them each time anybody sends them to me.”

Kamal J. Southall, author of “Trade Fraud, and the Joker Broker,” describes the following as “some of probably the most notorious Joker Broker Documents”:

“The Irrevocable Purchase Order/IPO ICPO: Typically identified because the Irrevocable Corporate Purchase Order, such a document merely doesn’t exist. Or to place things extra rudely, the ICPO is crap. There, we now have mentioned it, let the chips fall.”

Here is what would possibly in all probability be known as “the open secret” of the so-referred to as secondary market oil business: as a bunch, the crude oil and petroleum products sellers, and their long string of brokers, agents and intermediaries, typically close no deals nor make any gross sales or income out of the oil product they purport to sell, frequently after several months, even years, or perhaps for ever, of doing the enterprise. There are a number of reasons which account for this. They vary from the actual fact that almost all oil sellers and their brokers and other intermediaries, are fake operatives with no crude or petroleum product to sell, in the first, to lack of correct coaching and knowledge by these operatives in the basics of the enterprise, to the existence of sure severe drawbacks and shortcomings inherent in the truth that, bye and enormous, the principal source by which most brokers and agents immediately study their craft at present as oil dealers, is merely the Internet.

However, probably essentially the most elementary and most central factor of all which accounts for the above actuality, could simply be condensed into one broad time period: namely, the highly effective pervasive grip that the “The Joker Broker” mentality has come to have on the brokers and agents, most of whom today are merely Internet-based mostly brokers and brokers. Sometimes lacking much expertise or actual understanding of worldwide enterprise or the best way it truly works, and incessantly blinded by greed and false perception that they “are going to be tremendous wealthy subsequent week or subsequent month” by doing nothing, apart from, perhaps, simply shoving round a number of copied paperwork on the internet, the conditions, requirements, and procedures typically proposed by the “Web” brokers and brokers for prospective buyers to purchase from a seller, are usually unrealistic, impracticable, outrageously unreal, even laughable and ludicrous atimes. They’re unworkable conditions and requirements which might be fully contrary to the way in which normal and professional business has traditionally been achieved in the real world. And consequently, credible patrons usually reject outright the sales gives coming from such Internet sales operatives, thus resulting in frequent lack of gross sales or commission earnings for such operatives, month after month, and even year after year.

For instance, most of the promoting gives one gets in the present day for the sale of oil, are normally from Internet “sellers” – individuals who merely claim, through an Web communication, that they are “sellers” of crude or petroleum products with some product to sell, however sometimes have no known id, show no credible document or historical past of previous performance as an Authentic crude vendor or supplier, nor present any solid evidence that the supposed vendor even exists. Yet, these mere “Web” sellers would sometimes demand and count on a serious purchaser of oil, to easily sign an “ICPO,” and enter right into a binding contract with them committing itself to obligations valued in the a number of lots of of millions of dollars with such a but unproven and dubious Web “sellers” (or brokers and brokers), or to submit its most sensitive monetary and banking details to them, and so on! Calls for which, clearly, nearly no credible crude oil purchaser anywhere on this planet would settle for or undergo with merely a dubious, unknown, but-to-be-established entity! On top of all that, add to that the truth that those harsh situations are being demanded of intending buyers by the sellers and brokers in an oil trade that’s, by all credible accounts, stuffed with too many fakes and fraud in the contemporary oil selling business!