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by westwooded 2252 days ago
Would be useful to know the long term profitability of this annual hedge rather than cherry picking a great year. If, hypothetically, every other year they lost a billion, then this $5B gain doesn't seem as great.
2 comments

It's not just about profitability, but insurance. It allows you to distribute the losses over a much longer period of time and fix them in your budget.
Exactly, its a hedge. You hope you don't make a killing on the hedge!
From the article:

> From 2001 to 2017, the country made a profit of $2.4 billion.