Possibly the Strangest Thing in our Lifetime

[brad225]

Today, to see Crude Oil price become a negative number is unfathomable.

The world economy has come to a virtual halt and storage space is at a premium.

This morning the wholesale price for gas was $0.12 per gallon. I can't imaging what it will be tomorrow.

At some point there must be a risk/survival decision and allow low and lower risk activity to resume or there may be no return for many people.

It is so strange and a blessing to be retired and have most everything that is going on have very little effect on my wife and I.

We are doing what we can to help others but the economy must resume soon.

 

[Mike]

Been watching it all day. They’ll pay you to take it!


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[brad225]

May futures end tomorrow. Lets see what June brings.

Now I wish I had saved all of my 1 gallon water and milk bottles.

 

[Kuoppis]

Yes, the FT reported today:
- 04:06 crude oil falls 20% to below $15 a barrel
- 16:09 US oil price falls to 20-year low near $10 a barrel
- 19:12 US oil price below $5 as Corona virus hits demand
- 20:58 US oil price crashes below zero for first time in history

Now oil producers are paying you money to take the oil off their hands, as essentially all storage is full.


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[BlueFox]

On a positive note, the air is cleaner now than in decades.

 

[Kuoppis]

Greta got her wish: no airline traffic, no cars on the road, and much cleaner air. All well, I guess.


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[brad225]

My opinion and guess is Greta is clueless to what is really going on in the world.

 

[Kuoppis]

My opinion and guess is Greta is clueless to what is really going on in the world.

Of course, she is. She’s a 16 year old kid with autism, remote controlled by some wishing to instrumentalize her.


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[Scotty]

Mike is right - the June futures should reflect the actual price

 

[brad225]

I totally agree. My first thoughts when she appeared is her parents should be charged with child abuse.

Not that an autistic child is not capable of their own thoughts but she has been virtually brainwashed.

They have set her up for life of disappointment when the world doesn't change to her dreams.

 

[brad225]

Todays projection for June was $20 a barrel.

 

[still-one]

My opinion and guess is Greta is clueless to what is really going on in the world.

Sounds like some individuals with very important jobs. .

 

[Kuoppis]

Todays projection for June was $20 a barrel.

Apologies for digressing.

You think it’s going to go up that fast again?

I would guess lots will depend on how swift the end of the lock-down is. In the US alone 22 million people out of a job per today, getting them up to speed again might take a while.


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[brad225]

I have no better idea than any of you.
That was what one of the “ experts “ on one of the financial reports stated.

 

[Big B]

On a positive note, the air is cleaner now than in decades.

The clean air is a massive bonus.

 

[Kuoppis]

The clean air is a massive bonus.

For the better or the worse, I’m afraid we’re going to have more clean air in the months to come.

Currently, German carrier Lufthansa is losing one million € per hour.


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[u-sound]

it is for the better imho....leave them damned planes grounded forever!

 

[bart]

it is for the better imho....leave them damned planes grounded forever!

That would be very drastic.... but I also intend to fly less than before.
Corona is my wake up call...

 

[Big B]

Once this blows over and it will I can't wait for a vacate.

 

[brad225]

it is for the better imho....leave them damned planes grounded forever!

I am just curious. Why do you think that would be the best that could happen.

Please don't just say we would have clean air because China will be back to being the worlds largest polluter with in a short time.