[ExI] This is a Historic Day For World’s Oil Markets

[William Flynn Wallace]

Maybe this is not relevant to the situation, but I have read where there
are abandoned salt mines (in Louisiana?) where the government has stored
oil for emergencies etc.

Here is a table that you might find interesting beyond the price of gas,
such as the cost of unskilled labor.

https://www.measuringworth.com/calculators/uscompare/2019.html

bill w

On Mon, Apr 20, 2020 at 3:15 PM Dylan Distasio via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> I don't believe so.  Because there is a cost to store oil (like all
> commodities), and all storage appears to be full, there is the possibility
> of negative prices.   I may be wrong, but I cannot recall another situation
> where there was more oil than storage.
>
> On Mon, Apr 20, 2020 at 4:07 PM William Flynn Wallace via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
>
>> Has oil ever been any cheaper, adjusting for inflation and all that?
>> bill w
>>
>> On Mon, Apr 20, 2020 at 2:43 PM John Clark via extropy-chat <
>> extropy-chat at lists.extropy.org> wrote:
>>
>>> "*West Texas Crude oil priced at $0.01 at 14:20 eastern time. At 14:22
>>> eastern time, it collapsed to -$1.43 and fifteen minutes later, fell to
>>> -$20 for the May contract. For the first time in the history of the oil and
>>> gas industry, oil became absolutely worthless today*."
>>>
>>> Historic Day For World’s Oil Markets As American Crude Becomes Worthless
>>> <https://www.forbes.com/sites/kenrapoza/2020/04/20/historic-day-for-worlds-oil-markets-as-american-crude-becomes-worthless/#cd2638945dc9>
>>>
>>> John K Clark
>>>
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