OIL HIT 2 DOLLARS

Refining costs goy!

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Because crude futures != pump prices.

Weimar is here.
HH

Speak English. I don't understand your weird symbols

nice link faggot

Are you implying it's free?

>0.19 cents/liter taxes included in one county in Wisconsin
>fuel in Belgium will be more expensive tomorrow because of a new EU tax directive

CANT EVEN STOCK UP ON FUEL BECAUSE IT'S ILLEGAL TO GO OUTSIDE

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we build spaceship.
fuel cheap.

!= not equal to.
Go back to your coloring books.

ITS GOING NEGATIVE

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World crisis worse than corona.

It's $1.09 where I am.

It isn't free, but it is insanely profitable.

What's the best way to buy this dip? Oil fund?

This short article does a great job of explaining futures and why the price is dropping so much
bloomberg.com/amp/news/articles/2020-04-20/wild-oil-market-set-for-extra-volatility-as-contract-expiry-near

here
we
go

Fucking brainlet. Gas stations aren’t connected to an oil pipe line using oil in real time and getting charged current prices. The oil they used for your fuel was probably bought a week or 2 ago at those price levels.
Fuck me are people really this stupid.

>insanely
Not really, cheaper oil makes it a bit easier, but it's still just the difference between what they buy and sell it for

No one says "is not equal to". You seriously would say that instead of "isn't the same as"?

THE FOUR HORSEMEN ARE APPROACHING REPENT EVERYONE ONE OF YOU OF YOUR SINS AND BELIEF IN THE GOOD NEWS!

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It is for God’s chosen people

They still have to transport it to the refinery, refine it, then transport the fuel to the gas stations. And on top of that the gas stations are only going to charge a price low enough to be competitive with gas stations in the vicinity.

>How the fuck is gas over 2$ a gallon near my place then?
Does your car run on crude oil?

Don't buy it unless you can take delivery of the oil next month

You just don't
Pricess are returning to normal at the nearest in 10 years

You're on the fucking internet and you're reading text. You're reading symbols, this is me typing text into a computer, not me speaking.
Now fuck off.

yep should be $0.19 a gallon for you but all the fuck ass post production taxes they tacked on make it cost you at the pump 10xs more than what it should.

Still over $3.50/gal in Cali

>People who think that crude oil instantly transforms into refined gasoline petroleum and appears at your gas pumps like magic.

It likes like a full year for crude oil to go from being pumped out of the ground to being pumped into a gas station.

Jews can magically negate the costs of running a refinery?

You can't really stock up on gasoline. It needs stabilizing agents or else it begins to gel up and will clog up your fuel system. This is why you are supposed to take preventative measures to protect a motorcycle, lawn mower etc. when you put it into storage for the winter months. Letting gas sit in the tank for 4 months is a bad idea.
Having a year's stock of cheap gas will just give you several months of ruined gas and clogged up fuel injectors/carbs.

Taxes.

So I can get a barrel of oil and also be paid $5 or whatever for it?

It's fucking code you absolute idiot even I know that.

hooktube.com/watch?v=v1mQT1u_45I

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Me fucking off is not equal to you being right

Because you live in a state with gas tax.

TAXES

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this makes no sense. cheaper oil means a more valuable dollar.

Bullshit.
When the price of oil is high it reflects the price of gas.
When it's low you suck cocksndicks.

Get the fuck out of here, tourist.

Gasoline is trading at like $0.75 right now

State taxes

Go back to ledit with your code. This is an English only site

>California
Who cares?

It's the contracts only. It means if you were shorting oil and hoping for X amount of gains now you will have zero as in nothing.

GET RID OF THEM
WE DIDN'T KILL ALL THOSE BONGS FOR NOTHING

Tax is also a huge portion of the cost of gas. Usually over 50% of the cost. The taxes pay for the roads. This is one reason the low cost of electric cars is a lie. They dodve the tax. If everybody drove electric they would beed to develop a new tax to pay for the roads that would include electric vehicles. Electric is artificially cheap because they don't pay the taxes.

ONE FUCKING DOLLAR!?!?!

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>Electric is artificially cheap because they don't pay the taxes.
The cybertruck starts at 40k

ok gramps, go back to your nursery home. and get someone to take care of your senile dementia

The gas you're currently pumping was bought as crude maybe 6 months ago and delivered to a refinery 4 months ago then refined 2 months ago.
So you might see a small reduction in pump prices now, but they're not going to be giving you gas for free even if crude futures go negative now.

And there's no fucking way they'll ever be passing the savings onto the customer anyway. The customer is always fucked, that's rule number one.

Has it EVER been this fucking cheap before?
It was $150 a barrel 12 years ago, how the FUCK is it so cheap now
Is now a good time to buy oil and natural gas stocks?

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You're a fucking muppet

Is this good or bad for us?

How dare you talk to me the way your wife's boyfriend talks to you?

California the best state

Thanks, that was informative and only took about a minute to read.

TLDR: Storage capacity for oil is just about full and traders are doing a fire sale on oil futures for the month of May.

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There's more competition when it isn't just equinor

PETRODOLLAR STATUS: OBLITERATED
PRESS S TO SPIT

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>Fresh off the boat, from reddit, kid? heh I remember when I was just like you. Braindead. Lemme give you a tip so you can make it in this cyber sanctuary: never make jokes like that. You got no reputation here, you got no name, you got jackshit here. It's survival of the fittest and you ain't gonna survive long on Yas Forums by saying stupid jokes that your little hugbox cuntsucking reddit friends would upboat. None of that here. You don't upboat. You don't downboat. This ain't reddit, kid. This is Yas Forums. We have REAL intellectual discussion, something I don't think you're all that familiar with. You don't like it, you can hit the bricks on over to imgur, you daily show watching son of a bitch. I hope you don't tho. I hope you stay here and learn our ways. Things are different here, unlike any other place that the light of internet pop culture reaches. You can be anything here. Me ? heh, I'm a judge.. this place.... this place has a lot to offer... heh you'll see, kid . . . that is if you can handle it...

I want 1 million barrels of oil delivered at 1 cent a barrel... to my oil deposit lake.

Funny thing that when crude oil prices go up to record numbers you see the change at the pump that afternoon, but when the opposite happens then you have the "it takes 5 months to refine it and get to the gas station" excuse.

thanks taxes and refinery cartel

probably? i dont see any viable replacement for our demand for oil in everyday life
all those cars, ships, machinery arent going to disappear overnight

Adjusting for inflation never.

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You have no fucking storage capacity left and since everyone is at home, there's nobody filling their tanks for joyriding or commuting so there's no demand. That's why futures are cratering like a motherfucker.
Brent is not cratering quite as hard yet because we've not run out of storage capacity just yet.

Brent crude is not just equinor if that's what you think. This is not a matter of competition or monopoly. This is a matter of maxed out storage capacity and fuck all demand.

RIP North Dakota

the dollar is still the global reserve currency (thanks in part to coronavirus)

Cost of electric per mile, not the car itself. Electric is a fraction of the cost to operate compared to gas partially because electric doesn't have the taxes built in like gas does. Fuel taxes are quite steep.

WTF AN OIL BARREL FLEW OVER MY HOUSE

RIP Russian economy. Farewell, guys. It was nice to know you

Amazing grace! How sweet the sound
That saved a wretch like me!
I once was lost, but now am found;
Was blind, but now I see.

Through many dangers, toils and snares,
I have already come;
’Tis grace hath brought me safe thus far,
And grace will lead me home.

The Lord has promised good to me,
His Word my hope secures;
He will my Shield and Portion be,
As long as life endures.

Yea, when this flesh and heart shall fail,
And mortal life shall cease,
I shall possess, within the veil,
A life of joy and peace.

The earth shall soon dissolve like snow,
The sun forbear to shine;
But God, who called me here below,
Will be forever mine.

When we’ve been there ten thousand years,
Bright shining as the sun,
We’ve no less days to sing God’s praise
Than when we’d first begun.

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This. I keep trying to explain it.
Retards jumped on may delivery contracts thinking it would go up. But now they have until closing today to sell it otherwise they'll have to accept delivery.
It's fucking pottery. The assholes that have been driving oil prices up for decades are getting shit on hard. They'll go negative eventually because it'll be more expensive to default on the contracts than to pay refiners to take it.

Give it 30 days for full effect. Gas prices shoot up like a rocket but fall like a feather.

yo i'm starting to think this pandemic is much less deadly than this self-inflicted quarantine .

A hyper battery is being announced 5k charge/discharges, 1500 mile range, unaffected by weather, short recharge and low weight.

Oooooohhhhhhhhh!!!!!!
Good answer!!!!

TAXES AND FEES

Is Maduro shitting himself yet?

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lol does anyone else remember the Peak Oil environmental faggots from 10 years ago?
i hope they're seeing this shit now

P E A K E D
oil is over.

And you can buy a decent gas truck for a grand if you play your cards right. He's talking about fuelling costs

40k is about the price of a new vehicle anyway or more

HH

That will be fun i guess. Didnt you guys start a war normally ?

If only I could drive somewhere besides Walmart pickup once every two weeks

>He doesn't own his own personal cruise ship to commute to work in
Casual.

They have been promising this tech is just around the corner for years now. I will believe it when I see it.

Probably planning to switch to the new Coca Leaf Standard.

Trust me, if it went up to $100 tomorrow those price gouging dirty Arabs would raise it to $5/gallon by 1pm

Thoose are dream price, I calculated the french version, its around 4.1$ of tax each gallon

>ONE DOLLAR

not good not terrible janez.

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What the fuck did people even use crude oil for in the late 1800s before cars?

This shit is dropping faster than Deutsche Bank

S

i dont know whats happening but it's the jews

Drilling it is just the first step. Everybody along the way has to get their share, from the transportation of it, to the refinery, to the transportation of the gasoline, to the habbibity bibbity clerk at your local 7-11.

Hulk Hogan!

I love your question.
That's a truly good question.

What happens next is i can drive my car for free tomorrow

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It's still 1.39 where I'm at. Hoping it'll drop to 1.19 within a week now

This

Hulk Hogan brüder

to boil niggers with

Gasoline is trading at about $0.70 right now

O Lord my God,
When I in awesome wonder
Consider all
The works Thy Hand hath made,
I see the stars,
I hear the mighty thunder,
Thy pow'r throughout
The universe displayed,
When through the woods
And forest glades I wander
I hear the birds
Sing sweetly in the trees,
When I look down
From lofty mountain grandeur
And hear the brook
And feel the gentle breeze,
Then sings my soul,
My Savior God, to Thee,
How great Thou art!
How great Thou art!
Then sings my soul,
My Savior God, to Thee,
How great Thou art!
How great Thou art!
When Christ shall come,
With shouts of acclamation,
And take me home,
What joy shall fill my heart!
Then I shall bow
In humble adoration
And there proclaim,
"My God, how great Thou art!"
Then sings my soul,
My Savior God, to Thee,
How great Thou art!
How great Thou art!
Then sings my soul,
My Savior God, to Thee,
How great Thou art!
How great Thou art!

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it's dropping faster than the weimar republic.
literally when did something drop by 92% in a SINGLE DAY

WTI doesn't measure the price of oil in the normal sense of the word.
To buy it at 5$ you need to take delivery of it right now. Which companies aren't able to do because they can't store it because everything is full. So this is essentially an auction without customers so the price tanks.
Future oil, that is oil that you can take delivery of in the future, is still much higher priced and hasn't fallen like "today oil" has. Companies have fate in their ability to successfully take delivery of oil in the future and are therefore bidding up that price.
Oil companies mostly remain unaffected because everyone realizes that 5$ oil is a temporary result of a fucked up pricing/delivery system. The future revenues of oil companies look just as good today as they did last week, nothing has changed in that regard, and the "future price" of oil proves it.
Also, a lot of US Shale producers will go bankrupt because of this, leading to less US Oil production. This is actually extremely good for other oil companies. Anyone with the cash to weather this storm, like most top oil companies, stand to benefit tremendously on the other side of this as they can produce more. Furthermore we are also beginning to see some big time protests to open up economies around the world again, so the "return to normal" also looks to happen faster than anticipated, which is obviously also good for the oil companies.

An $8 can of stabil will treat 20 gallons. So you can add roughly $.40to every gallon and determine if it's a good investment.

If you have the space, and think fuel is something worth storing just in case, tomorrow would be a good time to stock up.

They'd refine it into paraffin and then dump the byproducts (one of which was gasoline)

Gas is 2.29 here in California. LOL at living in Los Angeles or San Francisco downtown with those prices.

If Alberta was smart they would have nationalized (well provincialized) oil the same way BC did with hydroelectric

So who is getting wiped out by this? A lot of oil is priced in the futures market. Whoever is holding the futures contracts will have to pay out Big bucks. Hedge funds?

destroy the fed

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Just a few more days and they start to pay you for using oil!
Imagine the opportuinites!

It's going to 1 cent a gallon plus tax maybe less believe it or not.

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What the fuck is going on, guys?
I get that economies are running slow, but to warrant that low price?
I'm scared.

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Oh really? When we hit high record numbers why did it increase by the afternoon? I remember lines of cars at gas stations trying to get cheap gas one last time.

>WHAT HAPPENS NEXT???
Buy buy buy

What does this mean 25 cents for a gallon soon?

one more thread should do it

Well I hope we build, and fill, even bigger oil reserves.

Even better than negative interest rates, tbqh

Lmao. It's cheaper than bottled water at this point.

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gas is less than 1.30/g here. i haven't seen it that low since 1999.

Gas will be free soon. WHY THE FUCK IS EVERYONE BITCHING?

i wonder what will happen next

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Russian Economy on suicide watch.
Considering we are expecting a global food shortage in the second half of the year, failure to act on COVID-19 and now this I'm expecting serious social upheaval in the motherland, perhaps escalating to civil war.
In Putin leaves Russia to NATO country for any reason in the near future expect him to stay there for amnesty.

that’s really bad from your skin.
I know someone in the army that faked medical problems to get a permit to grow a beard by rubbing petrol on his face