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re: May WTI Crude just fell to -$35.20
Posted on 4/20/20 at 4:11 pm to jcaz
Posted on 4/20/20 at 4:11 pm to jcaz
It’s not nearly that simple. Shutting in Shale production in the Permian is nothing like shutting down deep water production in Green Canyon. And running out of crude storage isn’t the half of it, there’s few places left to squirrel away motor gasoline and aviation fuel. We should be loading up the Strategic Reserve right now, but our favorite California Crone blocked the Administration from doing just that.
Enemies of the People
Enemies of the People
This post was edited on 4/20/20 at 4:12 pm
1
Posted on 4/20/20 at 4:35 pm to Icansee4miles
quote:There were no dollars authorized. Mnuchin should buy May contracts until the total purchases equal zero $$$
We should be loading up the Strategic Reserve right now, but our favorite California Crone blocked the Administration from doing just that.
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