Posted on 04/20/2020 12:08:37 PM PDT by C19fan
Please Send me 10,000 barrels and a check for $376,300 for taking them off your hands.
Thanks
Still hysterical I see. I bet you bought oil futures thinking you were gonna strike it rich this time.
But you’d rather bully than learn anything.
It’s really so sad.
I think there are two sides to the oil trade.....party # agrees to deliver for set price and party # 2 agrees to take delivery. It is this agreement (obligation) to take delivery that has turned the oil negative. There is no where to put it, so the suckers who thought this could only go to 0 are really screwed. They MUST take it.
What’s sad is the joy you sickos get from all this economic misery. You wanted it, and you got it.
I never thought I’d see it either.
I wonder what the volume was once the “take my oil, please” price went negative.
Here’s a novel idea: if it isn’t worth the price to try to sell it.....don’t. We can use it here to replace the more expensive oil we’d have to import. Petroleum is a worth, only. You can’t eat it, live in it, or drink it. It assists in getting the food and housing there. Why sell it for less than zero if it has a worth of another product that sells to you higher than you have?
If the gas is not being used due to the flu, send the new petroleum to the refineries, convert them as they do each year, and produce heating oil to store for later this year. They don’t need all they have now, they will in the upcoming winter. Use it for later.
rwood
Get Us TF Back To Work!!!!!
Mission accomplished! Time for China to buy low!
I for one have totally been sick and tired of gasoline being so damn expensive!!!! for so long!!!
it’s been like four bucks a gallon for as long as I can remember
Now I hear it’s under a buck in parts of the US like Wisconsin
That’s a great thing
Soros effing around with the market. Conspiracy?
Folks,
This is ALL speculation. IT has Nothing to do with the real price of oil.
My 2019 Jeep Grand Cherokee HEMI V8 is getting 30 days to the gallon. LOL.
Pennsylvania also and I did not notice higher prices.
Wow. You just reminded me that this is high holiday season for NWO. Now until May 1.
“...Oil produced cannot be stored.”
Uhmm I suppose you have never heard of places such as Cushing, Patoka and half a dozen other super large tank farm complex?
Not to mention the unexplainable, not full NSOR?
There are many places to store oil, and lots of it, but most are approaching max cap.
If the demand doesn’t go back up before they are full, then the economy will take a real tank.
The next week or so is going to show how this hand of Texas hold’em will be played.
The word im hearing is no, they federal oil reserves are not all at max capacity.
Blows my mind also.
Rwood,
The tanks across the map are nearly full.
All.Of.Them.
There isn’t room to store what has been contracted.
The pipelines are slowed down to minimum flow, wells are throttled back as low as they can be flown, refineries everywhere are slowed back, though there isn’t too much room to reign them back to.
And the tanks farms and salt domes are approaching full.
The only ones that have any real room are the “cut and covers” (not really asts) that the DoD oversees/ owns across the globe. Filling them takes Congress money and Davis act tanker time. Neither is very easy to come by.
Building new tanks/ tank farms, even without the restriction of permits would take months or years to build.
Things are in going from interesting to sporty.....
That’s funny!
How math challenged ARE we?
The oil well owners are PAYING us to take their product?
This ‘news’ just HAS to be false!
My fourth grade math teacher drilled (pun intended) into me, “Show your work!”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.