Apr 20, 2020

Gas at $-1.99 a Gallon?



From a story in NY. Times:
"A benchmark for oil that will be delivered next month went negative, meaning it was essentially deemed worthless, suggesting that people who had oil to sell were willing to pay for it to be taken off their hands.
Oil that is scheduled to be delivered in June, more reflective of the market’s view on what the value of crude is right now, also fell, sliding 16 percent to about $21 a barrel.
The problem is that the United States is running out of places to store its oil."

I'm thinking of getting  the exercise I'm missing because the YMCA is closed by digging a big storage tank hole in the backyard.... 

Note: the illustration up top is a photoshopped picture I took. While gasoline has dropped to $1.50 a gallon in some locations, nobody...so far...is selling it for MINUS anything.

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