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File: 209 KB, 1242x1746, OIL NEGATIVE.jpg [View same] [iqdb] [saucenao] [google]
18561683 No.18561683 [Reply] [Original]

CANADIAN OIL WENT NEGATIVE TODAY, YOU LITERALLY HAD TO PAY SOMEONE TO TAKE IT FROM YOU.

>> No.18561699

>>18561683
Bobo’s Wrath

>> No.18561717

I have a couple empty barrels in my backyard how can I profit from this

>> No.18561726

>>18561683
Wait what does this mean future contracts were priced much higher 25

>> No.18561724

>>18561683
How much does a 55 gallon drum cost?

>> No.18561893

>>18561683
A canadian oil just flew over my house.

>> No.18561951

>>18561683
Wtf how can even it go negative

>> No.18561973

>>18561951
Cost of storage making it more expensive to hold than to pay someone to take it

>> No.18562007

>>18561683
Negative is fine, I place negative price limit orders all the time for my combo orders. It just means you will receive a credit. And when you sell, you will receive a debit.

>> No.18562009

Canada is basically China now so I guess people don't use oil in Chinada

>> No.18562017

where is this data? oilprice.com doesn't have WCS updates yet.

>> No.18562032

>>18561683

Isn't that the tar sand shit? It's the worst of the worst.

>> No.18562054

>>18561724

Like $4 wholesale from chinkland.

>> No.18562119

>>18562032
ya its low quality (thick) and has always been on the low price side, but even so we typically have seen $30-120/barrel over the last decade or two. Having it down under $4 is pretty awful for Canada and well below the cost of production.

Alberta has been the largest GDP producing province due to the oil market, and if Canada loses that I'm not really sure what they're going to do...

>> No.18562156

>>18562119
Trudeau is probably going to give more gibs to immigrants and tell Alberta to suck it up.

>> No.18562183

>>18562119
Albertan here. Still working in the oil industry. Deal directly with this shit oil as it comes from the ground.
We are a ghost town here now. People still acting normal in the cities. But the oil patch is dead. I still have a job for now

>> No.18562190
File: 118 KB, 1200x1200, 1_OREZUyE1n1YidV5ITQrbgA.jpg [View same] [iqdb] [saucenao] [google]
18562190

>>18562156
love our immigrants sweetie, they are worth their weight in oil

>> No.18562229

>>18562119
LOW TRANCHE BONDS GOING SOUR, ITS HAPPENING BOYS. THE ENTIRE CDO IS GONA BUST

>> No.18562236

If you sell your oil for a loss, you profit

>> No.18562504
File: 421 KB, 750x1082, 04F20840-08E9-42A5-804B-4CDF39030537.jpg [View same] [iqdb] [saucenao] [google]
18562504

>>18562236
Kek

>> No.18563544

>>18561717
1. Short your barrels
2. Fill barrels with Canadian oil
3. ???
4. Profit

>> No.18563592

>>18561893
holy fuck

>> No.18563610
File: 50 KB, 630x415, 40772391-D5C3-4E59-9EE0-2149BCE60CB2.jpg [View same] [iqdb] [saucenao] [google]
18563610

>>18562236

>> No.18563619

Calgary here. Im jumping off the peace bridge tommorow night.

>> No.18563660

>>18562190
What a flaming fucking faggot. And literally no muscle engagement in that phony as fuck smile of his. Hes a goddam sociopath globalist piece of shit. what the fuck, Canada.

>> No.18563705

>tfw a friend works in the oilsands
he's fucked ain't he

>> No.18563768

>>18563610
>>18562183
>>18563619

Burger here. Why the fuck aren’t our countries subsidizing and/or taxing the fuck out of imports right now?

>> No.18563975
File: 2.29 MB, 1000x967, 1567743398365.png [View same] [iqdb] [saucenao] [google]
18563975

>>18563705
>>tfw a friend works in the oilsands

I bet he doesn't any more lmao

>t. picked the diamond type of drill and thus get to laugh at retarded roughies

Sounds like I'll be buying a loaded truck nice and cheap this summer

>> No.18563996

>>18562009
Fuck off, Amerikkkunt

>> No.18564009

>>18563619
Calgary Here. Do a flip.

>> No.18564013

>>18563768
>tax the engine of the economy
>fuck every other industry to save oil
No.

>> No.18564027

>>18563619
>>18564009
Calgary is boring as fuck. Cultureless shithole.

>> No.18564041

>>18562009
>now

>> No.18564059

>>18563660
As a leaf I am truly sorry
I apologize in the name of all Canadians

>> No.18564073 [DELETED] 

the crux of the issue is lack of pipeline and storage capacity

most of the tank farms in north america were built in the 50's, 60's

we haven't expanded much capacity because it's impossible to get a permit for it
no City wants a tank farm in their backyard

it's dumb as fuck because now's the time to store as much as you possibly can and refine it when prices are higher

>> No.18564079

>>18563660

In our defense, our political system is so fucked that last time he won absolute unquestioned power with about 40% of the vote, and this last election he hung onto effectively but not literally absolute unquestioned power with about 29% of the vote

But now he's handing out $2k a month to anyone who asks so he's probably at like 80% approval

>> No.18564135

So what happens if I have -10 leveree oil certificate and oil goes negative

>> No.18564157

>>18561683
I'm up 30% on my oil buys. What are you bitches complaining about? Lemme guess...I bet you don't hold ARPA either...