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

[Darin Sunley]

Gasoline prices lage behind North American crude prices, and are dampened
somewhat from the extremes.

Gasoline won't go negative, or even sub-one-dollar, but they can reasonably
be expected to dip substantially in the next 2-4 weeks.

Now might be a good time to buy some extra jerry-cans for when that happens.

On Mon, Apr 20, 2020 at 5:15 PM spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

>
>
> > *On Behalf Of *Adrian Tymes via extropy-chat
>
> On Mon, Apr 20, 2020 at 2:16 PM William Flynn Wallace via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
>
>
>
> >>…Wow.  You mean I can go fill up and they pay me?  bill w
>
>
>
> >…If the negative prices had lasted long enough for effects to come down
> the supply chain all the way to your local gas station, that might indeed
> have happened eventually.
>
>
>
> >…They didn't, and it was expected they wouldn't… Adrian
>
>
>
> The kind of oil whose price went negative is the sour crude (high sulfur)
> which is more expensive to refine to the standards we demand, not the sweet
> crude we get from Saudi Arabia.
>
>
>
> If your car burned sour crude oil you would be in good shape.
>
>
>
> It doesn’t, so you still need to pay people to refine the crude into
> gasoline, transport it to the gas station, pay the gas station to maintain
> the equipment to pump it out of the underground tank into your car and
> measure the amount you used in order to bill you.  You also still need to
> pay the taxes on the fuel.  Add all that together and it still goes over 3
> bucks a gallon, which is what I paid this morning.
>
>
>
> spike
>
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>
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>
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