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twoday posted:Can a commodity have a negative price? yes, when people who can't actually receive the goods need to get rid of the contract. Canadian oil is already negative
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Apr 20, 2020 18:29
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Crazycryodude posted:So how hosed is the actual oil industry the fundamentals are still good, so it should be fine
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Apr 20, 2020 18:30
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$2.40 lol
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Apr 20, 2020 18:30
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twoday posted:Can a commodity have a negative price? hell yea my man
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Apr 20, 2020 18:30
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Crazycryodude posted:So how hosed is the actual oil industry considering nobody wants what they're selling and are about to start paying people to get rid of it, quite hosed.
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Apr 20, 2020 18:30
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Lol oil is worthless right now? Cool
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Apr 20, 2020 18:30
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so uh what does sub-$3/barrel do to the saudis/russia/venezuela?
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Apr 20, 2020 18:30
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oxsnard posted:People talk about the fed as if they can do anything with markets but these commodity spreads have literal physical constraints. No amount of money can prevent storage capacity from going to zero but what if we spent a trillion dollars digging a big hole
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Apr 20, 2020 18:30
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Innocuous posted:so uh you say venezuela, i say latin america
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Apr 20, 2020 18:31
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1.99
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Apr 20, 2020 18:31
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Innocuous posted:so uh Brent crude isn't as low. This is not just supply/demand of product but essentially a reflection of US infrastructure capacity
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Apr 20, 2020 18:31
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So. What are the chances this leads to extreme austerity in Saudi Arabia?
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Apr 20, 2020 18:31
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below 2 
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Apr 20, 2020 18:31
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so, "petrodollar" was just a red herring all along then?
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Apr 20, 2020 18:32
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snoo posted:lol the epa doesn't give a poo poo anymore This, i have a universal cert for HVAC and the only way youd ever get in trouble for venting refrigerant to the atmosphere is if you videotaped yourself doing it, saying you are doing it, while holding your drivers licence and that days newspaper. EPA exists to make people think we are doing something.
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Apr 20, 2020 18:32
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$1.19
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Apr 20, 2020 18:32
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Cup Runneth Over posted:$1.19 yeah for one second, then back up
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Apr 20, 2020 18:32
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Low prices, friends!
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Apr 20, 2020 18:33
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Briefly touched 1.00
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Apr 20, 2020 18:33
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Innocuous posted:so uh brent crude is at $26/barrel
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Apr 20, 2020 18:33
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Where do I go to collect my free oil?
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Apr 20, 2020 18:33
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99 cent oil
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Apr 20, 2020 18:34
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Dave Concepcion posted:brent crude is at $26/barrel oh well at least someone's doing ok 
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Apr 20, 2020 18:34
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So where does everyone from Houston go? Can we move them to Wyoming and give them jobs mining coal now?
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Apr 20, 2020 18:34
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where's my $1200 check and my complimentary barrel of oil
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Apr 20, 2020 18:35
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https://www.youtube.com/watch?v=RLySXTIBS3c&t=60s
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Apr 20, 2020 18:35
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below a dollar lol
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Apr 20, 2020 18:35
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snoo posted:where's my $1200 check and my complimentary barrel of oil
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Apr 20, 2020 18:35
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Innocuous posted:oh well at least someone's doing ok even $26/bb is eating poo poo, just less
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Apr 20, 2020 18:36
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come on go negative bitch
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Apr 20, 2020 18:37
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One dollar. One dollar. ONE DOLLAR. ONE DOLLAR. LETS GOOOOOOOOOOOOOO!
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Apr 20, 2020 18:37
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How hosed is Alberta?
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Apr 20, 2020 18:38
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SKULL.GIF posted:How hosed is Alberta? extremely
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Apr 20, 2020 18:38
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SKULL.GIF posted:How hosed is Alberta? Mega
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Apr 20, 2020 18:38
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SKULL.GIF posted:How hosed is Alberta? lol their oil price is already negative
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Apr 20, 2020 18:39
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seriously though where do i get this oil. my rental place has a backyard that can easily store at least 30 barrels
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Apr 20, 2020 18:39
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SKULL.GIF posted:How hosed is Alberta? Don't worry they are still hard at work! https://www.youtube.com/watch?v=LwinMu7-ZrI
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Apr 20, 2020 18:39
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Didn't someone say the minimum order for oil was 1,000 barrels? Worth considering at this point tbh
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Apr 20, 2020 18:39
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Alberta so bad they're going to let the rats in for protein
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Apr 20, 2020 18:39
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SKULL.GIF posted:How hosed is Alberta? Once oil goes negative a black hole will form in the tar sands and slowly consume the province
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Apr 20, 2020 18:39
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