Oil Futures Prices Go Negative, AOC Rejoices – IOTW Report

Oil Futures Prices Go Negative, AOC Rejoices

Fox News

On Monday, April 20, 2020, the price of oil traded deep into the red falling below zero for the first time ever shocking even the most seasoned energy traders and oil executives.

What happened? The market was well aware the coronavirus has decimated demand across the globe as economies have come to a screeching halt but was that enough to push crude into negative territory? More

Certifiable moonbat, Representative Alexandria Orcasio-Corez (NY-D) tweeted out her approval of the collapse of the oil industry in America, then deleted it. Here

28 Comments on Oil Futures Prices Go Negative, AOC Rejoices

  1. @Bad_Brad – with all due respect, and I mean that, what will Russia do exactly, with this POTUS? Maybe wait until 2024 if a Hillary like candidate should get in?? OR before that, IF Biden could actually get it. I put nothing past them.

    The train wreck you foreshadow ahead lies here in America, not anywhere else, far as I’m concerned and more worried about.

    @Joe6pak – again like above with respect, but all Americans benefit from lowered, not real low, gas prices. We have been paying through the, YOU know what, for TOO long.

    Ghost

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  2. IMO, because I can’t prove it, this whole coronapanic thing is a calculated move aimed at destroying the lifestyle and prosperity of the average American and making them compliant with the wishes of their rulers.

    It seems to be working that way even if I’m wrong about why it is happening.

    And it’s more than just here, it’s worldwide in scope.

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  3. ghost of brig gen j glover

    There’s a balance that needs to be maintained globally to keep everyone from killing each other. When oil is selling at minus $32.00 per barrel we’re probably a little out of balance. I mentioned Russia, but the entire Med depends on oil. This applies to domestic oil production as well.

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  4. ghost, negative oil prices will not benefit anyone in the long run. There are battery and capacitor technologies being developed right now that will make us dramatically less dependent on petroleum products in the not too distant future. However, if the oil industry goes tits up ahead of technology developing alternative sources of energy it’s going to make us wish for $60.00 a barrel of oil in a hurry.

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  5. This broad needs a real boyfriend to help her relax…
    not a red-headed soy loafer-floater.

    I suggested greyscape, but he nixed the idea almost immediately. He’s just now coming off a penicillin regimen and doesn’t want a relapse or worse.

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  6. She works off the premise that Earth needs to be saved!

    Everything someone says after such an asinine statement can be 100% disregarded.

    When she doubles down with the thought of humans are going to lead the charge and actually save the planet, you are much better off never looking at or listening to her again. She has negative street cred.

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  7. If “buyers” are paid by “sellers”, do the sellers HAVE to sell? This seems crazy. Would the grocery store pay me to take food off their hands? Please explain in simple terms.

  8. Annon. It’s about the cost of storage for all the oil that isn’t being refined into gas. I’m not sure they can just stop pumping oil out of the ground without incurring even more cost of trying to store what they’re producing.

    The collapse of oil prices hurts alternatives, like green energy, because who’s going to pay more for energy that no one is consuming right now?

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  9. Don’t anyone tell Her Giddiness how much in taxes the gov. won’t be collecting from this.
    Dangerously stupid and narrow minded shouldn’t be in politics, yet here we are…

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  10. @UNCLE KINK April 21, 2020 at 2:09 pm

    Just giddy over thousands of Americans misery. This skank is the enemy within. (One of many.)

    Count me in. The United States declared all Americans “enemy”. Generations ago. Never had a problem with that.

  11. @joe6pak April 21, 2020 at 3:16 pm

    Jpm, it’s a good thing you pointed that out to me

    If tweren’t fo’ smaht xoys, who’d be buying all those Prinxess of Diversity titles?

    (For more than negative dollars. Of course. Don’t slag me, smaht xoys.)

  12. It always pisses me off when oil companies are blamed for the high cost at the pump. I’m not saying all oil companies are honest, stand up folks, but much of the cost is due to refining it. Those costs are driven up by all the regulations, then all the federal and state taxes on gas.

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