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Keyser Soze

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, â€œOil prices can
go negative.â€ 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 â€“ 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.

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