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
This could be a huge train wreck in a couple months. Russia is not amused.
My buddies in Texas aren’t exactly laughing about this either.
Just giddy over thousands of Americans misery. This skank is the enemy within. (One of many.)
If AOC wants to pretend she has a degree in economics, she really shouldn’t speak about concepts like “surprise and demand”.
She’s investing in ice cream futures like Pelosi…https://www.youtube.com/watch?v=YJN9tF7TQ5w
@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
to be expected from optional-kotex, commie-t**t
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.
AoC’s body functions but her brain is DEAD,
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.
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.
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.
Batteries and capacitors are NOT energy. They are so storage.
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.
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.
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?
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…
Jpm, it’s a good thing you pointed that out to me, here I thought they were magic energy sources. Geez, I’m such a maroon.
@UNCLE KINK April 21, 2020 at 2:09 pm
Count me in. The United States declared all Americans “enemy”. Generations ago. Never had a problem with that.
@joe6pak April 21, 2020 at 3:16 pm
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.)
Does this mean they will pay me to fill up my tank?
Sitting here wishing I had a few hundred thousand gallons of empty storage capacity out in the backyard right now. Maybe if I start saving milk jugs….
If the price of a barrel of oil has gone negative, then the oil companies need to pay US to fill up our cars with gas!
She’s a very ignorant, dangerous person with power.
And power she has: she is a US Congresswoman.
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.
2.79 a gallon for 91 octane. I’m impressed. Gas is usually super expensive because getting to our town is off the beaten path.
Does anyone here actually believe people bought futures contracts on crude oil that PAID the receiver to take the oil?
Really?
Futures are a “zero sum game”, whether or not someone was paid to take delivery is beside the point. There were definitely winners and losers in this story.