At 10 cents a barrel, a gallon of oil should be less than 1 cent. Soon you’ll fill your tank up for a nickel.
1 barrel is equal to 159 liters or 42 gallons
Alexander Sanders
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Benjamin Brooks
Why can oil be pumped so cheaply?
Kevin Cooper
Countries will stop production because it isn't profitable and then the price will go back up.
Ayden Hill
Why is cheap oil bad?
Cheap oil = cheap gas = cheaper shipping = cheaper goods, right? What am I missing?
Joseph Wood
The price now will be pure taxes and profit margin. It will still be $3-5 a gallon in europe
Juan Wood
There's clearly a war brewing.
Robert Rivera
So any idea how we can profit from this? I mean it's clearly going up at some point in the future. But of course the May futures seem all fucked now. How about ETFs? Are they spread around over multiple futures or is there some kind of ETF that is protected against this?
Chase Powell
we still pay 70% percent tax on fuel
I hate them
Ayden Flores
>What am I missing?
A fucking brain
Levi Flores
>Cheap oil = cheap gas = cheaper shipping = cheaper goods, right? What am I missing?
Oil at 0 dollars means people believe the economy is in the worst state ever... not even in ww2 was it like this.
Christian Harris
So corona isn’t working as well as they hoped so now they are doing this
Jacob Bell
Enlighten me, faggot.
Jonathan Jenkins
The only ones who will profit are those with containing capacity.
Buying stocks from oil companies is retarded as you don't know wich one will go bankrupt (and a lot probably will).
Jayden Sanchez
Oy vey Oy vey not the profits Oy vey my portfolio wasn't diversified enough Oy vey let me get that delta and theta Oy vey Oy vey we gotta bomb Saudi Arabia and Iran to liberate the market from their Holocaust of my finances
Jason Mitchell
I'm not talking about investing in oil companies, they are all pumped up because of central banks. I mean how to invest in oil right now. Usually I would just buy some oil ETF, but as it is right now I'm not sure how those will handle. Futures and options probably have high prices still for the future after May.
James Miller
user
You know you fill your tank with gas, right?
Blake Allen
Meanwhile here in the UK with government taxation
mirror.co.uk
David Lee
>You know you fill your tank with gas, right?
Did you know you can make gasoline from crude oil?
Petroleum refineries in the United States produce about 19 to 20 gallons of motor gasoline and 11 to 12 gallons of ultra-low sulfur distillate fuel oil (most of which is sold as diesel fuel and in several states as heating oil) from one 42-gallon barrel of crude oil.
Jonathan Moore
Now you can get paid 4 dollars to get 1 barrel of oil.
Cooper Smith
Ah, my bad. Thought OP meant filling the tank up with just oil.
Gavin Ross
I hope you are joking
William Jones
You're the third person acting like you have some vast understanding of the global economic impacts of this. You're just caught up in the ITS HABBENING mindset every other retard is on this site.
See
Easton Murphy
It is going to destroy even more jobs than it already has
Joseph Baker
Does this mean you get paid to buy oil???
Oliver Hernandez
Yeah, a couple of 10s of thousands. This happens every 5-6 years when prices get too low. Meanwhile we just "buy" oil at -$40 a barrel and everyone else not working in oil gets cheaper everything and the government bails them out like they do every trough.
Julian Barnes
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Luke Diaz
HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Gabriel Parker
so where is the bottom? How much is the fine for not taking your oil delivery on May?
Aiden Lee
Send link
Charles Sanders
It` the Big Dick.
Camden Johnson
Xavier Lee
Yes
Owen Mitchell
Are you fucking stupid? It was at 10’s of thousands when it hit $20/bbl
Nicholas King
>so where is the bottom? How much is the fine for not taking your oil delivery on May?
You got to take physical delivery. If you don’t they will sue you for damages.
Cooper Scott
fuck me just bought 5 liters for the mower
Landon Parker
WHOOOOOOOOOOOOOOOOA SHIT
Jonathan Cox
ahaha really, I thought there is just some fixed fine.
Nathan Rogers
When will they be giving pussy away?
Nicholas James
Imagine owning a tesla right now