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Oil futures - You actually would have to pay people to take it off of your hands

Posted by $ jbrenner 5 years ago to News
44 comments | Share | Flag

Some major player or company just went under. This is an Atlas Shrugged moment like none other in the Trump era. This isn't a minor tremor. This is a tsunami-generating earthquake!

I wonder if Ellis Wyatt is building oil tank storage.

If I were trying to cause an economic collapse today like John Galt did in Atlas Shrugged, what happened today might be the way to do it.

I made money 25 years ago on unleaded gasoline futures. What happened today is going to be measured in the trillions of dollars, maybe more than that.

What I cannot understand is why no one has posted on this yet!

All Comments

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  • Posted by Lucky 5 years ago
    So much for 'peak oil'.

    Buy up now and store, can depleted wells be re-injected?
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  • Posted by $ jbrenner 5 years ago in reply to this comment.
    Someone lost their shirt. I don't want it to be a hedge fund for a teachers' association that taxpayers would be asked to bail out! This is the sort of crap that got us in trouble in 2008.
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  • Posted by mccannon01 5 years ago
    During the C-19 update this evening Trump was asked about this. He didn't seem too flustered and said it was more of a financial "thing" of very short duration and the price of oil a month out was around $28 a barrel. He also said his administration is taking advantage of this temporary condition to fill the national oil reserves at a very good price. He had a kind of smirk on his face when he said some people lost a lot of money. It made me wonder who and if there was more going on than meets the eye.
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  • Posted by $ jbrenner 5 years ago in reply to this comment.
    Someone made a killing on betting down oil futures today, and someone lost more than everything.
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  • Posted by edweaver 5 years ago in reply to this comment.
    Wisconsin is a long way from crude and the refineries. Finished product degrades so fast. Thought about buying oil stock but don't trust it.
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  • Posted by $ jbrenner 5 years ago in reply to this comment.
    If you can build a place to store oil, you could make your retirement dollars very quickly right now.
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  • Posted by edweaver 5 years ago in reply to this comment.
    Very close. Since the very beginning of this, all I've seen is politics. So frustrating. This is the one thing I didn't see coming. Prepared for everything I could think of. Missed this one. Might cost me my life's work. I needed 5 more years of Trump and now fear we may not get it
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  • Posted by edweaver 5 years ago in reply to this comment.
    Likely means the wells will shut down. Then the government will use power it shouldn't have to force them to produce. Is anyone else seeing Atlas Shrugged playing out?
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  • Posted by edweaver 5 years ago in reply to this comment.
    The motor of the world has been stopped by the many tyrannical governors. Unfortunately, I know this is not going to be popular but it's been fueled by Trump. As much as I like what he's done, he got between a rock and a hard place. If in the first 2 weeks of this, he'd realized how he was being used we wouldn't be here now. As it is, we are in deep trouble and if this doesn't change soon, so is Trump. They are going to use this to get all mail in ballots for the November election. It's over if they do. Of course I may be wrong but pretty close to betting my life on it.
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  • Posted by j_IR1776wg 5 years ago
    Does this mean that the gas stations will pay us to fill up our gas tanks?
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  • Posted by $ jbrenner 5 years ago in reply to this comment.
    It actually went down to -30 something dollars per barrel! Someone stopped a motor of the world today, but not the only one.
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