Has anyone seen that a barrel of oil is minus $37.00!
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I actually grew up in the Permian basin oil was life out there. Although it’s nice to fill up for cheap oil is one of the biggest contributors to the economy. Enjoy the low prices because wen it comes back I see it going to $150 a barrel again. I’ve lived through enough oil booms and bust to know. They will stack rigs right now but 6 months it will be drill baby drill
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Being in Alberta, I know what these oil prices are doing to our economy. 6 months might be a bit too soon to see things recover. It will take years, maybe decades to make up the deficit the governments have incurred to keep us barely afloat.
What I don’t understand is, how and why would a seller of oil pay a customer to take their product? Does that actually happen? Or is it just “on paper”.
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