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Tinker Sailor Soldier Pie |
Not a stupid question at all. The thing is, no one is buying any oil right now. Still, the deadline for WTI futures contract is tomorrow. When the Brent Crude contract deadline nears, perhaps it will have a huge drop as well. As has been said, there simply isn't anywhere to put the oil, so no one is buying anything, but the contracts are still due tomorrow for WTI. Wow.  ~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan | |||
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| Tinker Sailor Soldier Pie |
https://markets.ft.com/data/commodities ~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan | |||
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Get Off My Lawn |
When it rains, it fuckin pours. "I’m not going to read Time Magazine, I’m not going to read Newsweek, I’m not going to read any of these magazines; I mean, because they have too much to lose by printing the truth"- Bob Dylan, 1965 | |||
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| Gracie Allen is my personal savior! |
Have we hit the point yet where people are paying without taking? | |||
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| Tinker Sailor Soldier Pie |
 ~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan | |||
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Member |
Does this mean gas will be free tomorrow?  Seriously, this is not good. ——————————————— The fool hath said in his heart, There is no God. Psalm 14:1 | |||
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| An investment in knowledge pays the best interest |
Between oil suppliers/storage yes, that’s negative territory. | |||
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| An investment in knowledge pays the best interest |
No, gas is a refined product and ethanol as a blend component also has to be taken into account. Then there’s the tax man. It will take a few days and stations will look to see what the June delivery contracts price is before changing things (potentially dramatically). | |||
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Ammoholic |
To answer my earlier question about if we had already filled the strategic reserves. Nope, blocked by Chuck Schumer. Congress needs to act immediately and buy up as much as we can store, and expand storage if possible. Buy cheap and stock it deep. Jesse Sic Semper Tyrannis | |||
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| Lawyers, Guns and Money  |
I wish I had a large storage facility somewhere in Oklahoma... "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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| Cogito Ergo Sum |
This is really going to suck for those states that base their budget on the price of crude oil. | |||
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| Tinker Sailor Soldier Pie |
I'm sitting behind 350,000 barrels of tanker storage right now. Unfortunately, I'm just paid to push it where they tell me. ~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan | |||
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| Back, and to the left  |
So, thanks once again to the the GDC's, what little hay we could have made from this situation will be lost. Thanks Chuckie, have a hernia. | |||
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| Lawyers, Guns and Money |
I just filled the Tahoe and got cash back!  "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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Fighting the good fight |
Indeed. A good shot in the arm to the domestic oil industry in the short term, plus a solid strategic investment for the long run. | |||
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Be prepared for loud noise and recoil |
Is the storage life of oil indefinite? “Crisis is the rallying cry of the tyrant.” – James Madison "Keep your fears to yourself, but share your courage with others." - Robert Louis Stevenson | |||
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Oriental Redneck |
I could be wrong, but I would guess so. Where do you think they got the original material from? Q | |||
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| Little ray of sunshine  |
Where you going to put it? That is the problem. The potential buyers have no place to store it. The fish is mute, expressionless. The fish doesn't think because the fish knows everything. | |||
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| Ignored facts still exist |
Seems like if they start shutting down oil fields and oil platforms, then in the long run we're all screwed once demand goes up again. Which is what I suppose the Saudi's want. . | |||
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| Ammoholic |
What's the minimum contract size? I got a ton of used grocery bags. I'm gonna be rich! Link to original video: https://youtu.be/XRjNdgAetQE Jesse Sic Semper Tyrannis | |||
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