The economy is about to crash

Why are so many people exiting futures contracts before they settle, to lose the least amount of money possible?

Factorio players understand what is happening to the economy now

The only way for America not to go bankrupt over this is by starting a war with Russia.
But of course dumb Trump won't do anything against his best buddy Putin.

Not sure if trolling or serious.
What is an absolute or abs() aka | |

So if from +20 to -10 its a drop of 30, so
-30/+20 means -1.5 or 150% drop
I am drunk so excuse if I fucked that up somewhere along the line but you get the point

Kek

Lol I'm so glad I didn't buy futures yesterday like I was going to. Was literally 1 button press away. Instead I bought etf's, which I'm probably still fucked on, but I should be able to sell before I'm totally fucked.

I wish I had a warehouse where I could store barrels of oil at... I even have a dangerous goods transport certificate, so I could legally drive trucks with thousands of litres of oil on them

so if it went from +1 to -10, which is a smaller drop, it would be -11/1 = 1,100%, a higher percentage?
A smaller absolute drop but a higher percentage drop?

Trump won't fight China.

I live in Alberta. It's fucked. We're going down.

Hmm.. nope can’t think of any big glaring issues with this!!

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pics or never happen

>Why are so many people exiting futures contracts before they settle

Because if they keep the contract until expiration they'll have to take delivery on how many barrels of oil they were long.

maybe COVID19 is getting revenge on the oil industry for destroying the planet

Why were regular people allowed to buy industrial grade material contracts?!?! The past 60 years has been a fucking free for all

Kys, that oil would have been burned regardless.
Reddit is that way ---->

Well going down 11 from 1 is a higher percentage yes,

Its like going down 220 to -200 from 20 in our case before

Albertans deserve it

No, you're wrong. Ride out the initial panic for a week or two and then flee the city, OP.

Naw this is just what happens when you have the (traditionally) highest demand commodity on the planet operated by what boils down to cartels/mafias. All this is going to do is make the rich richer. The economy won't be shut down forever, and demand for oil won't be 2/3 what it normally is forever. If you don't think oil warlords aren't paying themselves to buy up their own stock at "heh negative price per barrel goy" prices and then storing it in their own private warehouses to 20x their investments in a couple months, you're delusional.

They will just push off the pain to everyone else, (probably act like they're hurting and fire all their employees to get that sweet sweet bailout money, which they will immediately use to give themselves 8 figure bonuses) but oil companies and the oil industry will be just fine

I guess for 60 years it wasn't a problem, but now it is.

Where do you live

It's not regular people that are causing this, as far as I understand it.
From what I understand there is too much oil around in the USat the moment, hence storage capacities of the big players who usually buy up oil and store it are full. This leads to everyone wanting to get out before expiration, since they wouldn't be able to store the oil they would be obliged to.
And so everyone started selling, domino effect.

Is this actually a nothing burger? There's technically a good reason oil went negative.

Fuck you faggot. We are the life blood of Canada.

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why don't they just TAKE all the oil

and PUSH it somewhere else?

>burning oil is the same as burning gasoline, benzene, or kerosene

nigga its fucking crude oil

The ocean perhaps

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Alberta budget requires $50/barrel oil. Alberta government will be bankrupt in less than 6 months. Short Alberta and all companies located in Alberta. Provincial government will cease to exist.

Nah

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Alberta government is a meme anyways

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