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Adorable Deplorable

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!

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