Oil prices are in the negative for the first time in history

So, if I agree to take 6-8 barrels of oil, the oil companies will give me a free Logitech c920?

 

I am not sure about the long run, but maybe I can foster the oil during the lockdown to keep the oil shelters empty.

 

Sorry if I don't feel sorry for them. Yes, I know the Houston economy....However, they have stuck it to the consumers for YEARS. Also, they are the reason for the lack of advancement in Electric car technology and a big reason for climate change. Maybe now, they need to invest more in alternate energy and stop block Electric Car advancement. Drive by the oil fields, see those companies burn off Natural Gas rather than give to need customers. ****'EM.

 

So Costco will pay me to fill up my car?

 

And insurance and mortgage.

 

It's good for oil business because it's so cheap, but it is also devastating to oil business because it's so cheap?

 

Good time for our government to top off our oil reserves. Maybe open up some new ones.

 

Houston housing going to collapse end of year.

 

Too bad I don't have the space.

Maybe Tilman can store a few thousand barrels at his casinos, restaurants, the Toyota Center and the Fertitta center?

 

Maybe we (Clutchfans) could pull a Duke and Duke and corner the market in barrels of oil.

 

think we already did that, although it may have been nixed. still - the gap is around 10-15 million barrels per day. the national strategic reserve would help for a minutes.

futures are negative because of a major player dumping a position. Should go back to the healthy price of $10 tomorrow.

 

Sure, when oil is in the negative, ppl say it's not oil's fault, and blame others.

But when the Rockets are negative, everyone blames Harden.

 

Drove by my local HEB yesterday and the gas price for regular was $1.48.

Any estimates on the price of a gallon of regular gas, this week?

 

Zing!

 

Everything is cyclical.

 

so... should i buy my first electric car or naw?

 

Pretty cringeworthy commentary here. If you don’t like policies, then vote out the TX RRC. Don’t wish away people’s jobs. Yes, low prices will cause energy markets to rebalance, and people will lose their jobs as some companies go bankrupt. But don’t be a dick. Most incremental energy produced in the US is going to start moving overseas anyway to emerging market countries with growing middle classes. With commodity prices this low, there’s no incentive to switch to renewables in the short term. East Asian countries are all switching over to natural gas from coal.

Negative oil prices on the May contract are a complete non-story to anyone in the finance/energy industry, although the media hysteria today and the stupidity online was hilarious.