Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #21   Report Post  
posted to rec.boats
external usenet poster
 
First recorded activity by BoatBanter: Jul 2007
Posts: 36,387
Default 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.


Careful Harry you misspell words and use bad grammar all the time and
you are supposed to be the professional.

  #22   Report Post  
posted to rec.boats
external usenet poster
 
First recorded activity by BoatBanter: Jul 2007
Posts: 36,387
Default 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?


If you are not getting free bags, snacks and drinks, you are buying a
cheap seat.
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules

Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
negative dihedral Bertie the Bunyip[_2_] ASA 0 June 5th 08 12:14 AM
Depth sounders to show negative numbers Phil Stanton Electronics 24 April 13th 05 11:49 PM
Negative flow causing pitting in aluminum? ANDY PHILLEY General 4 August 16th 04 06:32 AM
NEGATIVE CHARGE THROUGHOUT HULL ANDY PHILLEY Electronics 3 August 15th 04 08:57 PM
Anyone know what a "negative pressure"oil pump is? JAXAshby Cruising 0 June 27th 04 02:38 PM


All times are GMT +1. The time now is 07:05 AM.

Powered by vBulletin® Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright 2004-2025 BoatBanter.com.
The comments are property of their posters.
 

About Us

"It's about Boats"

 

Copyright © 2017