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Oil Prices Could go Negative...
On 3/22/20 9:29 AM, Justan Ohlphart wrote:
Airlines are big pietre dishes and for that reason, I'm out. :-) J.R. Petri just rolled over in his grave. You must be a grad of the Betsy DeVos Home Schooling Academy, where ignorance is king and spelling and grammar are not taught. |
Oil Prices Could go Negative...
On Sat, 21 Mar 2020 21:27:31 -0400, Keyser Soze
wrote: On 3/21/20 9:07 PM, wrote: On Sat, 21 Mar 2020 19:57:03 -0400, Keyser Soze wrote: On 3/21/20 6:17 PM, wrote: ,,,if production exceeds consumption. As we discussed once before, all oil pumped out of the ground has to go somewhere, and there is only a finite amount of storage availabie. I guess if push comes to shove I'd volunteer to take a thousand gallons or so off of their hands. And 'Airry could probably store at least that much in his imaginary boats. ----------------------------------------------- From: https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.” That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply. In reality, inventory levels are already rising. CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day. However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent. This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity – hence, in effect, negative oil prices. Let's all shed a tear for those consumer-oriented corporations...oil, airlines, cruise lines. I feel for the suffering of their employees, but I wouldn't be heartbroken if a bunch of airlines went belly up and were replaced by a few new airlines that decided being consumer-oriented and giving their paying passengers a nickel bag of peanuts when they boarded. Most of the big cruise lines treat their workers like ****, and the oil industry an environmental abomination. If people didn't think they should be able to fly across the country for $99 the airlines might treat them better. If you pay cargo rate, you are just cargo. This is just the extension of the Walmart phenomenon. People will put up with anything to save a buck. If you don't like it, pony up the money to fly up front, they treat you nicer and all the peanuts you can eat. (on a snack tray with fresh fruit, candy and all sorts of stuff) Oh, please. Are you going to try to tell me that the reason why they nickel dime you is NOT because you bought the cheapest fare imaginable? |
Oil Prices Could go Negative...
On Sun, 22 Mar 2020 08:34:18 -0400, Keyser Soze
wrote: On 3/22/20 1:42 AM, Bill wrote: Keyser Soze wrote: On 3/21/20 8:14 PM, Bill wrote: Keyser Soze wrote: On 3/21/20 6:17 PM, wrote: ,,,if production exceeds consumption. As we discussed once before, all oil pumped out of the ground has to go somewhere, and there is only a finite amount of storage availabie. I guess if push comes to shove I'd volunteer to take a thousand gallons or so off of their hands. And 'Airry could probably store at least that much in his imaginary boats. ----------------------------------------------- From: https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.” That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply. In reality, inventory levels are already rising. CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day. However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent. This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity – hence, in effect, negative oil prices. Let's all shed a tear for those consumer-oriented corporations...oil, airlines, cruise lines. I feel for the suffering of their employees, but I wouldn't be heartbroken if a bunch of airlines went belly up and were replaced by a few new airlines that decided being consumer-oriented and giving their paying passengers a nickel bag of peanuts when they boarded. Most of the big cruise lines treat their workers like ****, and the oil industry an environmental abomination. And how are they to pay their employees if they go tits up? I figure all the oil workers are union, so you are for screwing your union brethren. How about all those people whose retirement accounts contain oil? Probably even the bricklayer union has oil in their portfolio. So the oil companies shut down. Where are you going to get your fuel? Build a new refinery? Good luck on that even if you had the money. How are you going to get the 2-300 permits minimum required? No wonder you have had money problems. So, nothing to,say? About what? Your never-ending ignorance? You are the one that posted a blank note. |
Oil Prices Could go Negative...
On 3/22/20 9:37 AM, wrote:
On Sat, 21 Mar 2020 21:27:31 -0400, Keyser Soze wrote: On 3/21/20 9:07 PM, wrote: On Sat, 21 Mar 2020 19:57:03 -0400, Keyser Soze wrote: On 3/21/20 6:17 PM, wrote: ,,,if production exceeds consumption. As we discussed once before, all oil pumped out of the ground has to go somewhere, and there is only a finite amount of storage availabie. I guess if push comes to shove I'd volunteer to take a thousand gallons or so off of their hands. And 'Airry could probably store at least that much in his imaginary boats. ----------------------------------------------- From: https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.” That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply. In reality, inventory levels are already rising. CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day. However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent. This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity – hence, in effect, negative oil prices. Let's all shed a tear for those consumer-oriented corporations...oil, airlines, cruise lines. I feel for the suffering of their employees, but I wouldn't be heartbroken if a bunch of airlines went belly up and were replaced by a few new airlines that decided being consumer-oriented and giving their paying passengers a nickel bag of peanuts when they boarded. Most of the big cruise lines treat their workers like ****, and the oil industry an environmental abomination. If people didn't think they should be able to fly across the country for $99 the airlines might treat them better. If you pay cargo rate, you are just cargo. This is just the extension of the Walmart phenomenon. People will put up with anything to save a buck. If you don't like it, pony up the money to fly up front, they treat you nicer and all the peanuts you can eat. (on a snack tray with fresh fruit, candy and all sorts of stuff) Oh, please. Are you going to try to tell me that the reason why they nickel dime you is NOT because you bought the cheapest fare imaginable? I rarely buy the cheapest fare imaginable. Neither does my wife. Next? |
Oil Prices Could go Negative...
On Sun, 22 Mar 2020 09:35:59 -0400, Keyser Soze wrote:
On 3/22/20 9:29 AM, Justan Ohlphart wrote: Airlines are big pietre dishes and for that reason, I'm out. :-) J.R. Petri just rolled over in his grave. You must be a grad of the Betsy DeVos Home Schooling Academy, where ignorance is king and spelling and grammar are not taught. That's just more of your ignorant, simple-minded bull****. -- Freedom Isn't Free! |
Oil Prices Could go Negative...
On Sun, 22 Mar 2020 09:53:35 -0400, Keyser Soze wrote:
On 3/22/20 9:37 AM, wrote: On Sat, 21 Mar 2020 21:27:31 -0400, Keyser Soze wrote: On 3/21/20 9:07 PM, wrote: On Sat, 21 Mar 2020 19:57:03 -0400, Keyser Soze wrote: On 3/21/20 6:17 PM, wrote: ,,,if production exceeds consumption. As we discussed once before, all oil pumped out of the ground has to go somewhere, and there is only a finite amount of storage availabie. I guess if push comes to shove I'd volunteer to take a thousand gallons or so off of their hands. And 'Airry could probably store at least that much in his imaginary boats. ----------------------------------------------- From: https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, Oil prices can go negative. That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply. In reality, inventory levels are already rising. CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day. However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent. This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity hence, in effect, negative oil prices. Let's all shed a tear for those consumer-oriented corporations...oil, airlines, cruise lines. I feel for the suffering of their employees, but I wouldn't be heartbroken if a bunch of airlines went belly up and were replaced by a few new airlines that decided being consumer-oriented and giving their paying passengers a nickel bag of peanuts when they boarded. Most of the big cruise lines treat their workers like ****, and the oil industry an environmental abomination. If people didn't think they should be able to fly across the country for $99 the airlines might treat them better. If you pay cargo rate, you are just cargo. This is just the extension of the Walmart phenomenon. People will put up with anything to save a buck. If you don't like it, pony up the money to fly up front, they treat you nicer and all the peanuts you can eat. (on a snack tray with fresh fruit, candy and all sorts of stuff) Oh, please. Are you going to try to tell me that the reason why they nickel dime you is NOT because you bought the cheapest fare imaginable? I rarely buy the cheapest fare imaginable. Neither does my wife. Next? But you failed to address the question...again. Next? Dip****! -- Freedom Isn't Free! |
Oil Prices Could go Negative...
On Sun, 22 Mar 2020 09:39:04 -0400, wrote:
On Sun, 22 Mar 2020 08:34:18 -0400, Keyser Soze wrote: On 3/22/20 1:42 AM, Bill wrote: Keyser Soze wrote: On 3/21/20 8:14 PM, Bill wrote: Keyser Soze wrote: On 3/21/20 6:17 PM, wrote: ,,,if production exceeds consumption. As we discussed once before, all oil pumped out of the ground has to go somewhere, and there is only a finite amount of storage availabie. I guess if push comes to shove I'd volunteer to take a thousand gallons or so off of their hands. And 'Airry could probably store at least that much in his imaginary boats. ----------------------------------------------- From: https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, Oil prices can go negative. That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply. In reality, inventory levels are already rising. CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day. However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent. This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity hence, in effect, negative oil prices. Let's all shed a tear for those consumer-oriented corporations...oil, airlines, cruise lines. I feel for the suffering of their employees, but I wouldn't be heartbroken if a bunch of airlines went belly up and were replaced by a few new airlines that decided being consumer-oriented and giving their paying passengers a nickel bag of peanuts when they boarded. Most of the big cruise lines treat their workers like ****, and the oil industry an environmental abomination. And how are they to pay their employees if they go tits up? I figure all the oil workers are union, so you are for screwing your union brethren. How about all those people whose retirement accounts contain oil? Probably even the bricklayer union has oil in their portfolio. So the oil companies shut down. Where are you going to get your fuel? Build a new refinery? Good luck on that even if you had the money. How are you going to get the 2-300 permits minimum required? No wonder you have had money problems. So, nothing to,say? About what? Your never-ending ignorance? You are the one that posted a blank note. LOL! -- Freedom Isn't Free! |
Oil Prices Could go Negative...
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Oil Prices Could go Negative...
On Sun, 22 Mar 2020 09:29:17 -0400 (EDT), Justan Ohlphart
wrote: Wrote in message: On Sat, 21 Mar 2020 19:57:03 -0400, Keyser Soze wrote:On 3/21/20 6:17 PM, wrote: ,,,if production exceeds consumption. As we discussed once before, all oil pumped out of the ground has to go somewhere, and there is only a finite amount of storage availabie. I guess if push comes to shove I'd volunteer to take a thousand gallons or so off of their hands. And 'Airry could probably store at least that much in his imaginary boats. ----------------------------------------------- From: https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.” That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply. In reality, inventory levels are already rising. CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day. However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent. This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity – hence, in effect, negative oil prices. Let's all shed a tear for those consumer-oriented corporations...oil, airlines, cruise lines. I feel for the suffering of their employees, but I wouldn't be heartbroken if a bunch of airlines went belly up and were replaced by a few new airlines that decided being consumer-oriented and giving their paying passengers a nickel bag of peanuts when they boarded.Most of the big cruise lines treat their workers like ****, and the oil industry an environmental abomination.If people didn't think they should be able to fly across the countryfor $99 the airlines might treat them better. If you pay cargo rate,you are just cargo. This is just the extension of the Walmartphenomenon. People will put up with anything to save a buck. If youdon't like it, pony up the money to fly up front, they treat you nicerand all the peanuts you can eat. (on a snack tray with fresh fruit,candy and all sorts of stuff) Airlines are big pietre dishes and for that reason, I'm out. :-) I don't plan on getting on any public transportation any time soon. |
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