Is asset-backed credit support an option for energy firms?

In the run up to the passage of last year's Dodd-Frank Act in the US, a chorus of concerned end-users of hedging instruments sounded alarm bells about whether they would be required to post vast amounts of additional collateral to support their hedging activities. One particular concern was whether end-users could continue to avoid posting cash and other liquid collateral to banks and other swap dealers by providing a security interest on other end-user assets, such as oil and gas reserves or