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

[SR Ballard]

In my area, it might be possible, I think, to see sub $1. As of yesterday
you could get gas here for $1.30.

And it’s already sub $1 in some areas, per the news:

https://www.google.com/amp/s/amp.usatoday.com/amp/5160056002


On Mon, Apr 20, 2020 at 6:49 PM Darin Sunley via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> 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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