Take our oil and nobody has to be hurt

Take our oil and nobody has to be hurt.

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that's a nice barrel of oil you got there, give me $15 for it

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i don't get it

oil price went negative sopeople are PAYING for people to take their oil since they have nowhere to store it and can't cut production

JUST

WW3 literally tomorrow because oil just crashed through the ground

H A P P E N I N G

What's the point of war if oil is worthless? are we going to force russia and china to take our oil?

Good. We need to get the fuck off oil as soon as humanly possible. We are already 50 years too late this whole process should have started in the 70s. Stupidly suggestible environmentalists got swayed fucking hard off nuclear by oil lobby propagandists and got us in this fucking mess to begin with.

>I like you, so here's my offer, you give me $40 a barrel and I'll let that oil sit in my tanker

crude oil is -25 dollars a barrel

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>What's the point of war if oil is worthless?
>what's the point of war when the entire GDP of multiple nations craters overnight??

>nobody is buying oil
>it takes days to stop production
>they literally run out of storing space
>"Oil Futures" are basically a contract to buy 1,000 barrels of oil.
>When you buy a future contract you basically put down a small down payment
>If contracts expire you are obligated by the contract to buy the 1,000 barrels of oil (costing several thousand dollars)
>May contracts expire today
>Therefore people who are stuck with the contract and want to get rid of them are ok with selling it for less than the entire direct deposit they paid
>The price can go as low as it wants

NOOOOOOOOOO
NO MORE TAAAALK

RIP Russia
RIP Canada
RIP Saudi Arabia
RIP OPEC

Can't they take containers that would store other liquid and store oil in it?

So... Why don't they simply stop producing it? Give their employees a few days off with half pay and let all the excess oil get sold.

So easy. A million dollar ceo can't think of that?

lmao oil storage is not put in literal barrels they store it in those bigass tanks, haven't you ever seen a tank farm?

>Capitalism has to make even buying things so overly complicated rather than just "hay I haef barrel, do u want?" "yes i want" or "no i no want"

>So... Why don't they simply stop producing it?
Yeah just stop lmao. Sort of like 'just stopping' a fully loaded freight train right? Just push the brake pedal lmao.

stopping wells pretty much means you can never tap it again.

I was thinking more like those long trucks that store liquid nitrogen or some shit

Halting oil production is not as easy as flipping off a light switch

kek

Good. We don't need oil.

You would need a fucking zillion of those trucks to store the kind of oil being talked about here friend.

>oiled crashed
>housing marketing getting ready to crash

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>Oil tycoons are so dumb they never thought they'd have to stop production and so never accounted for it

Humans are literal retards, aren't they?

They can't. For a lot of the wells in the U.S., if you want to shut them down, you have to abandon it entirely. Starting it back up would require redrilling, which is much more expensive than temporarily selling at a loss.

Of course if this goes on for months the oil producers will just go bankrupt, the wells will be abandoned anyways, and anyone who loaned them money will probably be fucked.

will the Arabs so broke now

Don't come trying to run south of the border, leaf boy, we're full

I can only hope the house of Saud is destroyed

so... uh... is it happening?

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Cant they just store it on the open plains? Let it leak out into wonderful tar pits. The grand tar pits of Kansas

Sounds great until it gets hit by a tornado