Crude Oil Collapses - Again

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osupsycho

MAXIMUM EFFORT!!!
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Apr 20, 2005
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Valhalla
#9
It’s $10 because:

The May contract expires Wed and there’s no storage available.

The June contract is $23


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So first off I know next to nothing about the oil business but wouldn't it make more sense to be building more storage for it (or have already built them)? I am sure there are reasons they don't so curious what those are.
 

Deere Poke

I'd rather be in the woods
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#12
So first off I know next to nothing about the oil business but wouldn't it make more sense to be building more storage for it (or have already built them)? I am sure there are reasons they don't so curious what those are.
Seems to me it would be a lot cheaper to simply shut off the wells. Stuff is already stored underground. Not in the business so I don't know whats involved in restarting a well after you shut it off. I may be way off here.
 

cowboyinexile

Have some class
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#19
Yes it does. When I’m not attacked regularly I’ll gladly stop. So please give your same admonitions to your friends as well.
But you were unprovoked in this thread. Someone you don't like started a theead that is informative and your first action was to attack him. Then you started playing the victim when you got called out. That's on you.