Good Sam Club Open Roads Forum: Crude negative price @ -$2.50


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Yosemite Sam1

Under the pines.

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Posted: 04/20/20 12:19pm

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If you have a huge tanker, they'll pay you to take it at $2.50 a barrel.

I might not take my Cybertruck order anymore. [emoticon]

PawPaw_n_Gram

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Posted: 04/20/20 01:19pm

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They are running out of storage capacity, because retail fuel demand is down significantly.

Store it in your tanker. Or let the tanker sit unused because no one wants to transport oil right now. Your choice.

Full-Time 2014 - ????

“Not all who wander are lost.”
"You were supposed to turn back at the last street."

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DFord

Near St Louis, MO

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Posted: 04/20/20 01:36pm

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At that price (I heard you can buy all you want for $1/barrel just now), renewable energy sources won't be able to complete but the sure thing is, as soon as things start rolling again, they'll be after our wallets again. And you can take that to the bank!

Don Ford
2004 Safari Trek 31SBD (F53/V10 20,500GVW)
'09 HHR 2LT or '97 Aerostar MiniVan (Remco driveshaft disconnect) for Towed vehicles
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Yosemite Sam1

Under the pines.

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Posted: 04/20/20 01:54pm

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DFord wrote:

As sure as the sun rises.

I wonder what the pump prices currently.

They wil definitely try to recover their losses in the near future. But the oil industry is waking up to the fact of softening demand. Some have already cut their dividends.

I wonder what happened to the oii industry stocks of a member here who boldly declared he is buying (more?).

TomG2

Central Illinois

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Posted: 04/20/20 02:11pm

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Two weeks ago, it was announced that we had worked a "Deal" to stabilize oil prices. Today's headline, "American oil crashes below $0 a barrel -- a record low" Don't need any more deals like that.