April 20, 2020...the day the world changed.

How could this have gone any other way with Putin and the Prince ramping up production in the face of the dropping demand from the pandemic fueled lock down. At least the market is moving less on emotion and more on financial data this week.

I've certainly not shared the optimism of this last rally and I'm not convinced we're through the worst of it, but I don't don't share the doom and gloom outlook for the future. I think 5 years from now we will be able to look at this in the same way we did with 2008.

Hopefully we'll be able evaluate all of this and use it to correct some of our over dependencies on other nations etc..

So I guess that makes me an optimist after all? :cool:
 
Good perspective from a trusted source...

pca.st

How do you end up with negative oil prices? - Marketplace

U.S. crude oil prices plunged into negative territory today for the first time, falling to minus $37.63 per barrel. That’s possible because storage is the most valuable commodity in the commodity market. We’ll explain. Plus: how experts reckon with COVID-19’s impact on GDP and a conversation...
pca.st pca.st
 
onetracker said:
Good perspective from a trusted source...

pca.st

How do you end up with negative oil prices? - Marketplace

U.S. crude oil prices plunged into negative territory today for the first time, falling to minus $37.63 per barrel. That’s possible because storage is the most valuable commodity in the commodity market. We’ll explain. Plus: how experts reckon with COVID-19’s impact on GDP and a conversation...
pca.st pca.st
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Who knew that "Basis" "Contango" and "Backwardation" would be a thing?
 
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RobW said:
Good ol Grady white! What year? My grandpa had a 76’ which is sitting on a ridge in middle Tennessee right now rotting on a new trailer lol!
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indeed. good, and old. 1992 and don't look a day over 28. still hits 30kt WOT with the tide and a tailwind.
 
Dave Taylor said:
My truck is still full of equity shorts. I mark this day as a day the world has changed for any country that relies on oil. The world is going to get crazy. Saudi Arabia, Russia, Iran, Canada, Iraq, China, the USA. When oil producers have to pay to take oil away because you can’t just stop the production and transport then these countries will be forced to PRINT money. I have a horrible feeling about the future of the world.

I din’t want to be doom and gloom but more of a realist. In my mind the COVID-19 and the virus that caused it is merely the straw that broke the camel’s back. What’s next? Oil producer bailouts? Mega inflation? Weekly paychecks from the government?

I love you all like family and hope that I am 100% wrong but hold your friends close and your family closer. I feel like we are in for a hell of a ride...unchartered territory. What does negative oil prices even mean?

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There are bad and good things about this. The bad are mostly obvious. The good are a rebalancing of P/E ratios and a reminder to investors that newtonian laws apply to the stock market as much as to mountain bikers - that's a good thing for those who don't like bubbles. The dollar should continue to hold value and that puts the US in a relatively good position to weather the storm and come out of this with a better plan for the future. There is an opportunity to rethink healthcare, insurance, government spending priorities, state-state and federal-state government relationships, the pension system (it won't work for future generations), role of IT in moderating urban densification and let's not forget some Darwin awards for anti-vaccers. The opportunity is also for the electorate to gain a better understanding of what constitutes good leadership. We shouldn't let a crisis go to waste...
 
Liked for “gain a better understanding of what constitutes good leadership”, among others.
 
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