"Manwich - now Keto-Friendly" (manwich)
04/20/2020 at 15:05 • Filed to: None
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"Manwich - now Keto-Friendly" (manwich)
04/20/2020 at 15:05 • Filed to: None | 0
| 8 |
Well I never imagined I would see something like this... but there it is... the price for crude oil is in the negatives.
Tied in with that is GUSH... which is still selling for around $25.
NORMALLY, GUSH should move up and down with the oil and gas producer index it’s based on. And that index should rise and fall with the fortunes of the companies that make up that index.
The current price of oil suggest the index and GUSH should have crashed today.
But they didn’t.
And I think what’s going on is the only thing that is holding it up is the promise from the US government to pay companies to keep oil in the ground. I suspect some thoughts, dreams, hopes and prayers are also holding it up.
Here’s the problem... I don’t trust Trump or his administration to keep their promises... or keep them in a way that they don’t screw over anyone.
I believe the share price for GUSH as well as oil has entered a strange Twilight Zone where they have become detached from each other I’m not sure what’s gonna happen next.
So I pulled out and made a small
profit.
Based on what I believe I know (and I could absolutely be wrong), there is another stock price crash coming for US oil and gas producers.
And in the future, people will be like “Shale oil? What’s that?”
On the bright side, I expect gasoline and diesel to get even cheaper.
Future next gen S2000 owner
> Manwich - now Keto-Friendly
04/20/2020 at 15:30 |
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Negative, crazy. I wonder how low/long it will go. I imagine it can’t stay low for very long. Producers will just lay everyone off until the price comes back up. Refineries will go into shutdown/extended maintenance breaks.
https://www.cnn.com/2020/04/20/investing/premarket-stocks-trading/index.html
CB
> Manwich - now Keto-Friendly
04/20/2020 at 15:37 |
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Eventually it will go back up, right?
> Looks into buying negative stocks
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Manwich - now Keto-Friendly
> Future next gen S2000 owner
04/20/2020 at 15:42 |
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As long as people are using oil-related products, I think refineries will be okay.
But yeah, oil producers... just shut down and have everyone in that sector take a long vacation until a large amount of oil currently being stored gets used up.
Spanfeller is a twat
> Manwich - now Keto-Friendly
04/20/2020 at 15:44 |
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Will I ever get paid for filling my tank?
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Manwich - now Keto-Friendly
> CB
04/20/2020 at 15:53 |
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Last time I saw something like this was in the 1997-1998 time frame where I recall reading “the world is awash in oil”. But then 8 years later, oil was hitting new highs.
tr6rtiger
> Manwich - now Keto-Friendly
04/20/2020 at 15:58 |
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Last check I made on oil prices they were -$ 38 a barrel. Truly an amazing situation.
My bird IS the word
> Manwich - now Keto-Friendly
04/20/2020 at 15:59 |
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Anyone know how to invest in oil futures? I know where my stimulus check is going now.
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Manwich - now Keto-Friendly
> Spanfeller is a twat
04/20/2020 at 16:09 |
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Can your car run on crude oil?