Albuquerque’s Fuel Wager Is a Good Bet


Goldman Sachs has guaranteed the city of Albuquerque a wholesale price of $2.80/gallon of gasoline. Every three months the city will show its fuel expenses to Goldman Sachs; if the average price is higher than $2.80/gallon, Goldman Sachs pays the city the difference, and if the price is lower, the city reimburses Goldman Sachs. The city hopes to save up to $2 million, and if it achieves this goal, $234,000 will be used to fill vacant library positions.