Now that will even cover transport costs! I wish I had a UGGGGGE tank farm!
Lots. Just look around Cushing. Fraternity brother of mine makes a killing building those tank facilities.
I just wish I knew more about how the oil futures market worked. I know nothing about it. Anyone want to give a quick lesson?
I was tempted to suggest the Hildebeast, but her "expertise" was in the cattle futures. Sorry.
Ok I want to buy a thousand dollars worth of oil at 1 penny per barrel. Where do I buy it and do I have to store it myself somewhere? You would think by Christmans oil would be back up to $20/barrel which would net me a 2 million dollar profit.
More from the A-hole On Crack
https://www.foxnews.com/politics/aoc-celebrates-oil-crash-you-absolutely-love-to-see-it
https://www.foxnews.com/politics/aoc-celebrates-oil-crash-you-absolutely-love-to-see-it
About a month ago I posted a link in a thread here on OSA to a Reuters story about the lack of storage available. Tank farms in Cushing were charging .50/barrel/month. Some companies had purchased tank ships to just store oil at sea.
I've lived in the Cushing area more than 30 years and have seen and experienced the boom & bust of oil. I pray we make it through this one.
I've lived in the Cushing area more than 30 years and have seen and experienced the boom & bust of oil. I pray we make it through this one.
Lower gross production tax, the sate of Oklahoma couldn't pay oil companies to get oil back up. Much less lower taxes, no taxes wouldn't fix this. The problem is there is a lot of oil and the market has been rigged forever. Usually that comes back to haunt you. If we let free markets work Oklahoma, Texas, all of the midcontinent wouldn't be producing. Just think if Iraq, Syria, Libya, Iran, Venezuela where all producing, we have put them all out of business to prop up oil. Still didn't work.
I heard Trump mention starting to refill the National Reserve to try to get over his hump. Apparently it had been drawn down years ago. I have no idea how much space is available, does any one have info.
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