If you have two threads invoking a static function at the same moment in time, is there a concurrency risk? And if that function uses a static member of the class, is there even
You put "ASP.NET" in the question title, this blog post is a good summary of the problems when using the ThreadStatic keyword in ASP.NET :
http://piers7.blogspot.com/2005/11/threadstatic-callcontext-and_02.html