WaMu and Wachovia are sitting on the brink of destruction because they didn't use derivatives to protect their real estate exposure the way the MLP guys do with oil and NG. Banks essentially bet that US home prices would go up forever. How dumb was that? Do you want your energy investment managed that way?
If you don't hedge the price of what you sell, your business is basically a casino operation. If I want to gamble, I'll go to Vegas