Boatboatboat Posted April 20, 2020 Report Share Posted April 20, 2020 Storage transportation cost exceed value. Very expensive to shut wells down, so keep pumping.But what do we do with it? We pay you to take it Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted April 20, 2020 Report Share Posted April 20, 2020 How does negative barrel work? Anyone have a real explanation i sell a bunch of contracts i take in the $37/barrel of negative value (they pay me to take delivery) i give them fisshead's address for where to deliver everyone wins! Quote Link to comment Share on other sites More sharing options...
rito Posted April 20, 2020 Report Share Posted April 20, 2020 Lol Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted April 20, 2020 Report Share Posted April 20, 2020 LOLOL Make sure the barrels are nice, may make some bourbon Quote Link to comment Share on other sites More sharing options...
dogball Posted April 20, 2020 Report Share Posted April 20, 2020 LOLOL Make sure the barrels are nice, may make some bourbon Convert to castor oil it’s a cinch Quote Link to comment Share on other sites More sharing options...
Balco Posted April 20, 2020 Report Share Posted April 20, 2020 Did Elon Musk killed the oil industry. I'm sure that 800,000 Tesla's running around has had some effect on the oil industry, but perhaps, just maybe, the worlds' economies shutting down for 3 months has a little more impact. Quote Link to comment Share on other sites More sharing options...
mikeman Posted April 21, 2020 Author Report Share Posted April 21, 2020 Did Elon Musk killed the oil industry. I'm sure that 800,000 Tesla's running around has had some effect on the oil industry, but perhaps, just maybe, the worlds' economies shutting down for 3 months has a little more impact.ya think? Quote Link to comment Share on other sites More sharing options...
undertaker Posted April 21, 2020 Report Share Posted April 21, 2020 How does negative barrel work? Anyone have a real explanation"West Texas Intermediate crude oil futures for May delivery cratered by 305 percent to -$36.73 a barrel. " That is a very specific product. It's not the price of the oil, per say, It is the price of a contract to take delivery of oil from a certain source at a certain time. All the oil storage facilities that this grade can reach (it's landlocked, so tankers aren't an option) are full now, so the last thing anyone wants is to have a contract on their hands saying they will take delivery of something they have nowhere to put. When mid-may arrives, the people who are left holding these contracts with nowhere to put the oil will need to reneg on them, and end up paying penalties. Thus the "paying people to take the contracts off your hands" part. Quote Link to comment Share on other sites More sharing options...
Boatboatboat Posted April 23, 2020 Report Share Posted April 23, 2020 Quote Link to comment Share on other sites More sharing options...
housepicks Posted April 23, 2020 Report Share Posted April 23, 2020 1.65 by me Quote Link to comment Share on other sites More sharing options...
KingKolzig Posted April 23, 2020 Report Share Posted April 23, 2020 The DON TRUMP SHOW is must see TV today What time is THE SHOW today? funniest thing FH ever posted. the d.trump show Quote Link to comment Share on other sites More sharing options...
WVU Posted April 23, 2020 Report Share Posted April 23, 2020 The money I am saving driving a Tesla is shrinking fast Quote Link to comment Share on other sites More sharing options...
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