Negative Oil Prices Arrive: Koch Brothers’ Refinery “Pays” -$0.50 For North Dakota Crude. Yeah, you read right. The driller pays Koch to take it.
This post was last modified on January 26, 2021
Negative Oil Prices Arrive: Koch Brothers’ Refinery “Pays” -$0.50 For North Dakota Crude. Yeah, you read right. The driller pays Koch to take it.
This post was last modified on January 26, 2021
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If you like your oil, you can keep your oil...
All part of the House of Saud's plan. Bankrupt the small guys, and then it gives Quagmire a chance to pull their drilling permits.
Back in 2012 that horse's ass Bill O'reilly said the oil companies were manipulating oil prices driving them ever high to make a buck. As though someone had their handle on an oil price dial.
"Right now we are all being taken advantage of by an administration that has an anti-fossil fuel agenda and an oil industry that manipulates the U.S. market. Who is looking out for us? Nobody."
I have not heard of Bill bloviating about the lower prices and who is setting them.
On the plus side, the warmists have invested quite a lot of other people's money in banging on about Big Oil, eternally to blame for the fact that the alarmists' sums never quite add up - well, never even remotely add up, actually.
Now they have Small Oil, so... What can they blame on that?
Global warming has been blamed for just about everything, including unusually large sheep, unusually small sheep and the (possible - only possible, mind) extinction of the Loch Ness Monster. Does Small Oil give Nessie a breather?
I seem to remember that Obama promised to reduce the temperatures, lower the tides, deflect rogue asteroids with his bare hands and bring the Dodo back to life, but I missed the bit about Nessie.
What a guy!
Obamanomics!
I wonder if he'll catch the flack Bush did in 2008?
This is worrying me. I think the powers that be are trying to break American oil entrepreneurs. Once they bankrupt these guys who have been the only bright spot in the economy, and the only thing stopping the next Great Depression, OPEC will reinstate drilling limits, the government will put some more clamps on drilling, and the price of oil will skyrocket again. IMO.
It's been no secret the Saudis have been doing this, if you want to call them "the powers that be."
Actually, if you read the article, this is a very small part of the output, and it is just the real high sulfur stuff that is very expensive to refine.
If it was worth paying for, I'm sure they would, but the drillers need to get rid of this stuff, and if they pay a little, to get rid of it, it might be worth it for them.
That's certainly the objective of the Saudis.
Without a doubt.