Since it was at $18-something Friday, it is den roughly 300%. Pretty darn hard to do!
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
I want a 100,000 barrels at -$36.76 per,,,, so I buy 100,000 barrels ,,,,, I get the oil and you pay me $3,676,000,,,,,,, I think I can stack 100,000 barrels in the back yard if I stack them 50 barrels high.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@blitzdude said:
I must also confess it is nice filling up the tank at sub $1.00 a gallon. lol
More fun filling it up for 0.00 with zero other people touching your own clean nozzle and can do it from home to boot. Sorry you aren't there yet, its where te real fun is. Extra bonus, my car loads of fun to drive and outguns most motorcycles
@MilesWaits said:
Ouch. The Clampetts are poor again.
Nah. They already rolled over into the June/July contracts quite some time ago. Paper traders who waited to roll over just got fleeced and incinerated. The price of real oil sitting in a tank is still $20/barrel give or take. Same thing "could" happen to PM futures....only in reverse....as there is little ready supply for a SHTF scenario. Futures could go to zero....while physical price heads to infinity. Paper vs. Reality. Own the real thing....not GLD, SLV.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@blitzdude said:
Take that big oil, now you gonna be paying me to use gasoline. lol
They deserve to go bankrupt and be forced to adapt -- like all the small businesses in the US have to now do -- for the parts they've played in raping and pillaging the planet. Their disinformation campaigns for global warming were, and are, immensely successful. Let them burn like our rainforests.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Strange times indeed. In the 1970's, there was fear and panic that we were at 'peak oil' and the earth had no more to give... we were going to have dire times due to declining sources of oil in existence.
Now... no where to store it and they are paying you to take it. Going to be devastating to anyone tied to the oil industry...
@blitzdude said:
I must also confess it is nice filling up the tank at sub $1.00 a gallon. lol
More fun filling it up for 0.00 with zero other people touching your own clean nozzle and can do it from home to boot. Sorry you aren't there yet, its where te real fun is. Extra bonus, my car loads of fun to drive and outguns most motorcycles
Company vehicle sometimes requires 4-500 miles of driving per day. Certainly not going to get that range out of an electric. I wish they did, and that my company would go that route.
@blitzdude said:
Company vehicle sometimes requires 4-500 miles of driving per day. Certainly not going to get that range out of an electric. I wish they did, and that my company would go that route.
People already do that plus more miles already. My record is over 750 miles in a single day. Non issue really, cakewalk with a V3 or V2
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Gas here in Hawaii is $3.50 a gallon !!!
Dang! It's in the 1.30's here in Asheville, NC
Dang! Asheville is one of those places I've wanted to visit......the Biltmore, right?
Re: the gold-oil disconnect - it seems to me that they are more connected than ever as gold fully reflects the extent of the current oil glut and it's effect on oil storage and consequently - oil prices.
For sure, the petrodollar is under attack. The question is whether or not it is under attack by our own free-spending Congress and the Fed. They've certainly weaponized it and the SWIFTS system that is used for international payments.
We live in interesting times.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: Gas here in Hawaii is $3.50 a gallon !!!
Dang! It's in the 1.30's here in Asheville, NC
Dang! Asheville is one of those places I've wanted to visit......the Biltmore, right?
Re: the gold-oil disconnect - it seems to me that they are more connected than ever as gold fully reflects the extent of the current oil glut and it's effect on oil storage and consequently - oil prices.
For sure, the petrodollar is under attack. The question is whether or not it is under attack by our own free-spending Congress and the Fed. They've certainly weaponized it and the SWIFTS system that is used for international payments.
We live in interesting times.
Yep! Biltmore Estate is like 5 or so miles from my work.
With my discount I paid .97 cents a gallon for home heating fuel, strange times. Wonder what the hyperinflation iceberg will be like in the months and years to come.
@cohodk said:
War, of some sort over the last 50 years, has often been a result of super low oil prices.
Haven't we been at war since 2003?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Futures markets are at risk. Panic in a (paper) market with unlimited supply is pandemic.
Current economic models may be completely invalid. Who predicted negative oil prices?
Economic forecasts may completely wrong. Especially when they are based on credit being the salvation.
Central banks are in uncharted waters, completely blind. Doing something is sometimes worse than doing nothing.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
From what I read and know about, there's going to be major disruptions in energy supply and food supply because of the demand destruction that is ongoing with an economy that's on ice.
Q: Are You Printing Money? Bernanke: Not Literally
i suspect food will see major price inflation as demand grows and supply weakens. Just the opposite of oil.
Central banks will be throwing everything they have at stimulating inflation, to ease their debt burdens and to salvage the oil industry. Just as the last time they will fail. Until hard asset inflation occurs across the board, the FED's financial asset inflation will once again stimulate only credit and financial assets.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
The oil companies will be employing those Somali pirates to hijack their ships.
Been down this road before, have you?
They be paying you to take it off their hands.
Knowledge is the enemy of fear
Since it was at $18-something Friday, it is den roughly 300%. Pretty darn hard to do!
Down
I need some remedial help here; what’s the monthly cost to store crude oil? (I guess it’s going up)
If you have to ask, you can’t afford it!
Costs nothing to dump it into the ocean.
Knowledge is the enemy of fear
Seems like the govt should be taking this opportunity to top off the SPR and make a few bucks.
zz-40
zzNegativeOil
-40
That's what I was thinking. I remember paying around 70 cents/gal in 1980.
I want a 100,000 barrels at -$36.76 per,,,, so I buy 100,000 barrels ,,,,, I get the oil and you pay me $3,676,000,,,,,,, I think I can stack 100,000 barrels in the back yard if I stack them 50 barrels high.
I hope the wind doesn't pick-up,,,,,
Great Googley Moogley!!!!
More fun filling it up for 0.00 with zero other people touching your own clean nozzle and can do it from home to boot. Sorry you aren't there yet, its where te real fun is. Extra bonus, my car loads of fun to drive and outguns most motorcycles
Nah. They already rolled over into the June/July contracts quite some time ago. Paper traders who waited to roll over just got fleeced and incinerated. The price of real oil sitting in a tank is still $20/barrel give or take. Same thing "could" happen to PM futures....only in reverse....as there is little ready supply for a SHTF scenario. Futures could go to zero....while physical price heads to infinity. Paper vs. Reality. Own the real thing....not GLD, SLV.
Well, that was fun!
They deserve to go bankrupt and be forced to adapt -- like all the small businesses in the US have to now do -- for the parts they've played in raping and pillaging the planet. Their disinformation campaigns for global warming were, and are, immensely successful. Let them burn like our rainforests.
Paper traders who waited to roll over just got fleeced and incinerated.
Looks like someone had to liquidate a few gold contracts as well.
I knew it would happen.
Cushing is full. I would venture a guess that June & July contracts will not be desirable to hold for long.
I knew it would happen.
The fake markets need an enema anyway. I wonder what this will do to all of the paper crap that's out there.
I knew it would happen.
How is the June oil contract doing?
per Marketwatch, June futures tumble 25%.
I knew it would happen.
War, of some sort over the last 50 years, has often been a result of super low oil prices.
Knowledge is the enemy of fear
Strange times indeed. In the 1970's, there was fear and panic that we were at 'peak oil' and the earth had no more to give... we were going to have dire times due to declining sources of oil in existence.
Now... no where to store it and they are paying you to take it. Going to be devastating to anyone tied to the oil industry...
Don't worry, the ,gov and the Fed have a plan.
Oil companies are too big to fail.
Right?
Excellent transaction with: ffcoins, Proofmorgan, fivecents, MorganMan94
I'm guessing the oil market is pulling stocks and pms down.
day low $11 and 11.75 now
Company vehicle sometimes requires 4-500 miles of driving per day. Certainly not going to get that range out of an electric. I wish they did, and that my company would go that route.
The whole worlds off its rocker, buy Gold™.
People already do that plus more miles already. My record is over 750 miles in a single day. Non issue really, cakewalk with a V3 or V2
Insane !!!
Gas here in Hawaii is $3.50 a gallon !!!
Dang! It's in the 1.30's here in Asheville, NC
My YouTube Channel
Correlation ? -----> https://www.moneymorning.com.au/20200420/the-oil-and-gold-disconnect-and-why-it-matters-attack-on-the-us-dollar.html
As Arte Johnson used to say: "Very interesting!"
Gas here in Hawaii is $3.50 a gallon !!!
Dang! It's in the 1.30's here in Asheville, NC
Dang! Asheville is one of those places I've wanted to visit......the Biltmore, right?
Re: the gold-oil disconnect - it seems to me that they are more connected than ever as gold fully reflects the extent of the current oil glut and it's effect on oil storage and consequently - oil prices.
For sure, the petrodollar is under attack. The question is whether or not it is under attack by our own free-spending Congress and the Fed. They've certainly weaponized it and the SWIFTS system that is used for international payments.
We live in interesting times.
I knew it would happen.
Made it ma... top of the world!
Experience the World through Numismatics...it's more than you can imagine.
Yep! Biltmore Estate is like 5 or so miles from my work.
My YouTube Channel
With my discount I paid .97 cents a gallon for home heating fuel, strange times. Wonder what the hyperinflation iceberg will be like in the months and years to come.
Haven't we been at war since 2003?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Negative oil is telling us that:
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
From what I read and know about, there's going to be major disruptions in energy supply and food supply because of the demand destruction that is ongoing with an economy that's on ice.
I knew it would happen.
Huh?
i suspect food will see major price inflation as demand grows and supply weakens. Just the opposite of oil.
Central banks will be throwing everything they have at stimulating inflation, to ease their debt burdens and to salvage the oil industry. Just as the last time they will fail. Until hard asset inflation occurs across the board, the FED's financial asset inflation will once again stimulate only credit and financial assets.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Thank you for the clarification.