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Charliegrs posted:I think I remember the last time oil plummeted some genius decided to hoard a bunch of cheap gas in containers in their garage. Naturally it all exploded. I’m pretty sure that was an episode of Its Always Sunny Shimrra Jamaane posted:Invest in the barrel making industry. Can we, like, make a big vinyl precursor buy or something?
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Apr 20, 2020 19:35
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TyroneGoldstein posted:I'm sorry capitalism is a caricature of itself now. Were all living in the poverty action version of Who Framed Roger Rabbit. "Remember me, Eddie? When I killed your economy? I talked just....like.....THISSSS!"
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Apr 20, 2020 19:36
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Triskelli posted:I’mma make a bold statement and say that nobody who wears a skull bandanna is “unaffiliated” Gonna take a wild guess here, let me know if I’m close or not; these guys are Nazis, right?
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Apr 20, 2020 19:36
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The reason it's happening today this is the last day to trade contracts for May
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Apr 20, 2020 19:36
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Flip Yr Wig posted:Why is this happening so rapidly? This seems like an eminently foreseeable problem that could have been priced in gradually. Is it just that commodities traders are just starting to notice it? end of contracts for May + storage is full oil is worthless because the market is so flooded with supply there's nowhere to put more oil
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Apr 20, 2020 19:37
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HONG KONG SLUMLORD posted:Gonna take a wild guess here, let me know if I’m close or not; these guys are Nazis, right? They are absolutely Nazis who think they are "patriots"
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Apr 20, 2020 19:37
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So if we get into a war right now with Iran will it increase the price of oil to a whopping $10 bucks a barrel?
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Apr 20, 2020 19:39
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Dick Trauma posted:But what does this mean for the price of Vaseline? You could literally spend your life savings on it right now and become a vaseline baron and live off the greasy gold.
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Apr 20, 2020 19:39
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https://twitter.com/ericbolling/status/1252304677858918400?s=20 Chuds seem to think quarantines did this and not idiotic oil policy out of Russia, KSA, and Donny's big brain.
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Apr 20, 2020 19:39
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Pick posted:The reason it's happening today this is the last day to trade contracts for May Fritz the Horse posted:end of contracts for May + storage is full Got it. Didn't understand that futures contracts happen in one day bursts like this.
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Apr 20, 2020 19:39
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lol that iran is going to be an actively nuclear state by the time the US remotely extracts itself from quarantines and economic collapse. Nice
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Apr 20, 2020 19:40
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watching the cnbc ticker is like seeing a pair of neutron stars inspiraling https://www.cnbc.com/quotes/?symbol=@CL.1
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Apr 20, 2020 19:40
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All of these loving dorks are just looking for a reason to murder someone. The deep vein of psychosis that runs through American conceptualization of patriotism is loving perverse and dangerous. Scary poo poo.
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Apr 20, 2020 19:41
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IBroughttheFunk posted:"Remember me, Eddie? When I killed your economy? I talked just....like.....THISSSS!" For real tho.....this is like, The economy was already intubated in the icu for several days and it just had a massive heart attack.
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Apr 20, 2020 19:41
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How does a thing trade for negative dollars? *Burns Econ degree*
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Apr 20, 2020 19:41
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Flip Yr Wig posted:Got it. Didn't understand that futures contracts happen in one day bursts like this. I think they've been running for a month or so, but this is just the last day and everybody had been speculating on a price rise and hadn't actually planned on buying it, and now are panic selling. So like ebay flippers sitting on a garage full of worthless poo poo they planned on flipping, except with the oil market.
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Apr 20, 2020 19:41
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I remember there was an ask/tell type thing with a guy who went to oil school or something. He and his buddy had purchased a used oil well - basically they idea is companies only go for the easiest to get oil out of the ground and move somewhere else the moment the flow starts to decrease. This dude was like: I'ma pump out the rest and make millions!! Wonder how that guy ever made out
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Apr 20, 2020 19:42
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Flip Yr Wig posted:Got it. Didn't understand that futures contracts happen in one day bursts like this. and the reasons there is so much supply right now are a combination of KSA deliberately flooding the market to hurt Russia (and US shale fracking) plus demand cratering due to covid now seems like a bad time to be a petrostate
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Apr 20, 2020 19:42
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If it goes below -$50 does that mean the actual barrel is free too?
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Apr 20, 2020 19:44
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"gently caress"
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Apr 20, 2020 19:44
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Push El Burrito posted:I bet the barrel itself is probably worth more than one penny. We'll make a killing! we could just pour all the oil out behind shoppingtown mall in dewitt new york.
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Apr 20, 2020 19:44
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https://www.tradingview.com/x/kujxPjKQ/ That drop 0_o
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Apr 20, 2020 19:44
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The fundamentals of the economy are proper hosed as well, is what this indicates.
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Apr 20, 2020 19:44
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LeeMajors posted:All of these loving dorks are just looking for a reason to murder someone. These geeks wouldn't shoot anyone. It's easier to get an AK in a lot of states than it is to get fireworks. They got what they wanted, they got to look like big scary Patriots for the cameras but I bet barely even 1% of them would actually use those guns to "liberate" anything. They just want people to be afraid, and unfortunately the media is letting them get what they want
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Apr 20, 2020 19:45
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the division 2 is real and the loving true sons just showed up.
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Apr 20, 2020 19:45
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Fritz the Horse posted:and the reasons there is so much supply right now are a combination of KSA deliberately flooding the market to hurt Russia (and US shale fracking) plus demand cratering due to covid I know it won't, but it'd be delightful if the Saudi royal family's oil war ends up accidentally decapitating it.
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Apr 20, 2020 19:45
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Herstory Begins Now posted:lol that iran is going to be an actively nuclear state by the time the US remotely extracts itself from quarantines and economic collapse. Nice
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Apr 20, 2020 19:45
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Slowpoke! posted:How does a thing trade for negative dollars? Imagine you’ve stockpiled turnips in Animal Crossing, and they’re about to start rotting... you need to unload them but Tom Nook will come seize your house if he finds rotting turnips in there, so you’re out like a billion bells if he seizes your house because you haven’t paid it off and you’ve been farming money trees on credit this whole time, but you decided to get into turnips.. e:
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Apr 20, 2020 19:46
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Nonsense posted:Chuds seem to think quarantines did this and not idiotic oil policy out of Russia, KSA, and Donny's big brain. Trump will panic and declare everything must open now and try to override the states and basically neuter a governors power over their own states.
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Apr 20, 2020 19:48
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Slowpoke! posted:How does a thing trade for negative dollars? You have too much of thing and nowhere to put it but more thing just keeps coming in and you can't stop it right away.
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Apr 20, 2020 19:48
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ewiley posted:Imagine you’ve stockpiled turnips in Animal Crossing, and they’re about to start rotting... you need to unload them but Tom Nook will come seize your house if he finds rotting turnips in there, so you’re out like a billion bells if he seizes your house because you haven’t paid it off and you’ve been farming money trees on credit this whole time, but you decided to get into turnips.. Okay but this time explain it in Witcher 3 terms with crowns and Gwent cards.
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Apr 20, 2020 19:49
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I remember this book called The Money Tree that was supposed to teach young teenage boys about financial planning, and the book ends with him forgetting to sell a corn future and ending up a truck dumping a literal ton of corn on his lawn. Anyway.
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Apr 20, 2020 19:49
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ewiley posted:Imagine you’ve stockpiled turnips in Animal Crossing, and they’re about to start rotting... you need to unload them but Tom Nook will come seize your house if he finds rotting turnips in there, so you’re out like a billion bells if he seizes your house because you haven’t paid it off and you’ve been farming money trees on credit this whole time, but you decided to get into turnips.. This makes sense to me now
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Apr 20, 2020 19:49
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Flip Yr Wig posted:Why is this happening so rapidly? This seems like an eminently foreseeable problem that could have been priced in gradually. Is it just that commodities traders are just starting to notice it? "the economy is going to rebound in may! it's still good! it's still good!!!"
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Apr 20, 2020 19:49
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Dapper_Swindler posted:the division 2 is real and the loving true sons just showed up. I just posted a SS from Div2 standing in front of a "The Virus is a Hoax!" graffiti.
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Apr 20, 2020 19:50
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Trump hasn’t said anything about oil prices yet.....
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Apr 20, 2020 19:50
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Charliegrs posted:These geeks wouldn't shoot anyone. It's easier to get an AK in a lot of states than it is to get fireworks. They got what they wanted, they got to look like big scary Patriots for the cameras but I bet barely even 1% of them would actually use those guns to "liberate" anything. They just want people to be afraid, and unfortunately the media is letting them get what they want they pretty routinely shoot themselves, their families, and/or randos they get in drunken brawls with and there are a few who get up the gumption to do a terrorism
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Apr 20, 2020 19:50
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Charliegrs posted:If oil is in the negative does that mean gas will be negative? Will they pay us to fill up our tanks? Serious answer is no, the actual cost of materials is only a portion of the price of gas. But since there might be some storage space left for gasoline, there's a real possibility of cranking out more gas while that's cheap .80 to .90 a gallon is a real possibility.
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Apr 20, 2020 19:50
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If it drops any lower the US is going to let the Middle East and South America choose their own leaders
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Apr 20, 2020 19:51
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Charliegrs posted:These geeks wouldn't shoot anyone. It's easier to get an AK in a lot of states than it is to get fireworks. They got what they wanted, they got to look like big scary Patriots for the cameras but I bet barely even 1% of them would actually use those guns to "liberate" anything. They just want people to be afraid, and unfortunately the media is letting them get what they want I'm aware how easy it is to get those guns--I live in SC. That is what people thought about dickheads like Dylann Roof and here we are. Don't make the mistake of minimizing the danger these assholes and the tenets of their death cult pose to the rest of us. Look at that loving neckbeard James whatever in Charlottesville who jumped in his Challenger and mowed a bunch of people down. They are cowards looking for opportunities to feast like lions.
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Apr 20, 2020 19:51
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