Someday, we need to remind the Saudi jackass enemy that their military can’t fight it’s way out of a piss soaked paper bag, and that they are annoying the only nation standing between them and oblivion, and that some afternoon we might just take everything they have.
They are waaaayyyy out ahead of their skis
I should’ve bought an oil tanker! They’d pay me to take the oil, and then I could sell the oil in a year.
This “news” is meaningless, people. It is just a contract that expires this week. It won’t be “$0” or anywhere near it on Wednesday, when a new contract is active. Likely to be $18-20. Reporters average a 10th grade education. This silly headline is an example of it.
I’m astonished that the markets haven’t collapsed. They are ether at the bottom, or investor confidence that this thing will be over soon is still high. All it will take is a major secondary flair-up and that will change. This whole thing is being manipulated. The only way out maybe an actual war against china. They own the UN and globalist movement. China thinks they will be in charge when the smoke clears. I think the ccp falls before it is over, just like the USSR.
A $40-$50 tariff on imported oil would solve this problem overnight.
POTUS has the authority to make it so.
The Saudis have 9 supertankers headed our way now. Every tanker in the world is full, many just anchored. It’s an epic glut.
You most certainly can
NOW is the time to fill the National Strategic Reserve.
CL just fell below $0
This is just show casing the insanity of the paper market.
https://oilprice.com/oil-price-charts
No other oil category is down 96%. Why would West Texas Intermediate be down 96% but Brent down only 5%? And Louisiana up $5?
This is NOT hard. What the feds need to do is set a “Floor Price”, maybe $50/barrel, and tax all imported oil at whatever rate it takes to bring the cost up to $50/barrel. So if imported oil is $10/barrel, then the tax would be $40. If imported is $45, then the tax is $5.
Domestic producers would not pay any of this tax.
Doing so will keep the oil companies solvent and also help give the government a few bucks to spread around.
“F’n Shummer pulled money for the last COVID-19 bill to fill the strategic national reserve.”
I did not know that, I thought the President could do that without Congress. That was very stupid of evil of Schumer.
“”You can’t just turn off all oil wells.””
Sure you can and that’s exactly what we’re doing.
What we should be worried about is, who is behind this?
I am guessing that POS George Soros.
The fact is that this will correct itself because it has to correct itself. If oil is worthless then production will fall to zero. The oil companies would go bankrupt. And after a time then there would be pretty much no oil. And at that point what little oil remained would be so expensive that only the super rich could even buy it.
No, but you can exercise the President's anti-dumping powers, and raise tariffs on imported oil to $60/bbl, thus protecting the domestic industry.
Cap, baby cap
My summer drive across the country would be easier if the
gas stations paid me to fill-up instead of other way around
This is bad, really really bad. People who are only worried about their gas tank have no understanding of just how important the energy market and supporting industries are to our economy.
I’m looking forward to cheap gasoline