Australian Politics Forum

Australian Politics Forum
http://www.ozpolitic.com/forum/YaBB.pl Member Run Boards >> Finance and Economics >> OIL IN NEGATIVE PRICES http://www.ozpolitic.com/forum/YaBB.pl?num=1587700349 Message started by Jake Winker Frogen on Apr 24^th, 2020 at 1:52pm

Title: OIL IN NEGATIVE PRICES
Post by Jake Winker Frogen on Apr 24^th, 2020 at 1:52pm

Oil has now hit negative pricing, recently -$37.63 a barrel of Texas crude. (Not to be confused with George W Bush)

So I went to my local petrol station, filled an empty tank up,
went to the counter and said "you owe me $37.63."

They did not pay up.

smacking capitalism.

Title: Re: OIL NEGATIVE PRICES
Post by Jake Winker Frogen on Apr 24^th, 2020 at 1:54pm

And then I payed $37.63 for a bottle of Pepsi Max.

Title: Re: OIL IN NEGATIVE PRICES
Post by Mr Hammer on Apr 24^th, 2020 at 8:32pm

You were over-charged on the Pepsi Max.

Title: Re: OIL IN NEGATIVE PRICES
Post by Mix_Master on Oct 7^th, 2020 at 5:33pm

If only Australia had the storage capacity...we could have loaded up on minus value futures contracts and gone some way to ensuring oil reserves.

(Yes, I'm aware I'm posting this months later; I made the same point elsewhere, before the futures crashed to that point).