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
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Why can oil be pumped so cheaply?
Countries will stop production because it isn't profitable and then the price will go back up.
Why is cheap oil bad?
Cheap oil = cheap gas = cheaper shipping = cheaper goods, right? What am I missing?
The price now will be pure taxes and profit margin. It will still be $3-5 a gallon in europe
There's clearly a war brewing.
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?
we still pay 70% percent tax on fuel
I hate them
>What am I missing?
A fucking brain
>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.
So corona isn’t working as well as they hoped so now they are doing this
Enlighten me, faggot.
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).
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
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.
user
You know you fill your tank with gas, right?
Meanwhile here in the UK with government taxation
mirror.co.uk
>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.
Now you can get paid 4 dollars to get 1 barrel of oil.
Ah, my bad. Thought OP meant filling the tank up with just oil.
I hope you are joking
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
It is going to destroy even more jobs than it already has
Does this mean you get paid to buy oil???
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.
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
so where is the bottom? How much is the fine for not taking your oil delivery on May?
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It` the Big Dick.
Yes
Are you fucking stupid? It was at 10’s of thousands when it hit $20/bbl
>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.
fuck me just bought 5 liters for the mower
WHOOOOOOOOOOOOOOOOA SHIT
ahaha really, I thought there is just some fixed fine.
When will they be giving pussy away?
Imagine owning a tesla right now