Did I say buy your barrels for free? Actually, pay me 7$ to take them off your hands and basically fuck you
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Wuhan Coronavirus: Economic Effects -
- Thread starter Ughubughughughughughghlug
- Start date
I am actually a little speechless now.
Here is a link so people don't think I have started hallucinating these numbers
And here is the Archive for this link
Here is a link so people don't think I have started hallucinating these numbers
And here is the Archive for this link
This is one area where the airlines should definitely happy IMO. They'd have to be retarded not to lock in fuel contracts at these prices, because when people start traveling again, the jet fuel their using is basically going to be free.
Kornheiser
kiwifarms.net
I know demand is way down but how the fuck is oil going into negative numbers a thing? Are we approaching Dutch tulip levels now.
Nobody's buying oil because nobody's using oil, which means that suppliers are going to have an inventory glut that they can't store. They're paying people to take the oil off them in order to keep the supply chain moving.
People are willing to do it because oil is actually useful, even if people aren't currently buying.
Radical Cadre
kiwifarms.net
Okay I'm just a dumb country lawyer so I don't understand economical things and such.
How does the price drop below zero? And if the price can/does drop below zero, doesn't that expose that it's all a bullshit market to begin with?
How does the price drop below zero? And if the price can/does drop below zero, doesn't that expose that it's all a bullshit market to begin with?
Cat Menagerie
kiwifarms.net
Ah, it's like 1985-86 all over again. In a nutshell, the Saudis basically got sick of the other OPEC members' shit and said fuck it, we're going to flood the market with crude. And they did. As a result there was a significant glut by 1986 and then the energy market shit its pants like we're seeing now. This absolutely destroyed us here in the energy producing states.
As a bonus, it had a substantial impact on the Soviets, who were a relatively new player to the energy game. Their economy took a thrashing and never recovered.
As a bonus, it had a substantial impact on the Soviets, who were a relatively new player to the energy game. Their economy took a thrashing and never recovered.
Not sure how to react to the price of oil.
Last week, it sounded like the Saudis and Russians had a deal in place. Now the USO is dumping oil to avoid having to take delivery.
Feels like we should just be running empty container ships 24/7 to burn off the excess.
Last week, it sounded like the Saudis and Russians had a deal in place. Now the USO is dumping oil to avoid having to take delivery.
Feels like we should just be running empty container ships 24/7 to burn off the excess.
No. It's a futures market. Futures are contracts to purchase future production. Normally there's more demand than projected supply, so contracts have a positive value that investors bid for in order to secure the most product for the lowest bearable price, and oil keeps moving through the supply chain instead of sitting in tanks and blocking everything. Now the demand has disappeared, but the supply chain can't be allowed to just stop; there are physical repercussions to that, not least that oil starts to degrade after about six to eight months after exposure to an oxygen atmosphere, it blocks pipelines if they aren't actively pumping, and wells can't just be shut down without enormous investment to recommission them when they start up again. Traders and suppliers are paying people to take future contracts, instead of selling those contracts for profit, so that the supply chain keeps moving and the oil doesn't turn to useless sludge. They're effectively buying space in other people's storage facilities for the oil that they're going to produce so that the oil remains useful instead of becoming a problem to be solved. Demand and supply have inverted for a little while; it's unprecedented, but if you think about it for a moment, it's not actually that weird.
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Coronavirus: Branson offers Caribbean island to secure Virgin bailout…
archived 21 Apr 2020 15:45:08 UTC
It may seem absurd but remember, if you can do your work from home, than so can anyone else with an internet connection. Competition is good in the marketplace but the coming introduction of such a a vast pool of labor at home and abroad for jobs that had never been fully online will depress wages for those already working. Of course, those who weren't will see this as new economic opportunities. These are certainly strange times we live in.
The funniest thing about the oil market crash is that Mexico just paid the USA to decrease its oil production, maybe two weeks ago. That money is going straight toward The Wall.
Whitney Webb makes the case that Silicon Valley dweebs are retooling their AI rollout plans, using the 4.2 trillion in 0% interest loans from CoV stimulus to redesign the economy.
It's a who's who of tech oligarchs and venture capitalists all working together, like when Eric Schmidt of Alphabet is bumping dicks with Jeff Bezos, there's nothing but horror coming from that union.
Virgin Australia, Australia's second largest airline, collapsed into voluntary administration after failing to receive a A$1.4 billion loan from the government.
Meanwhile, Sir Richard Branson is offering up Necker Island as collateral in an attempt to secure a £500 million loan from the British government to save Virgin Atlantic from the same fate.Coronavirus: Branson offers Caribbean island to secure Virgin bailout…
archived 21 Apr 2020 15:45:08 UTCarchive.fo
Virgin Aust was mostly owned by guess who...
CHINA.
So fuck them. Find your own buyer you fucks. They were - by self-admittance - not really an Australian airline. They skirted laws to make it seem like they were.
The stock market is slipping back down again, it seems. Technically a bad thing, but frankly it only improved due to government hands anyway, so this is at LEAST realistic.
In other news,
Curious to see how this affects Twitter's overpriced bougie marketplace on the first floor. Probably not much since they're building a massive apartment high rise for San Francisco city employees nearby, but you never know. I've been a few times and it's always busy.
In other news,
Curious to see how this affects Twitter's overpriced bougie marketplace on the first floor. Probably not much since they're building a massive apartment high rise for San Francisco city employees nearby, but you never know. I've been a few times and it's always busy.
737 MAX Stan Account
kiwifarms.net
As someone who works from home and is stuck living in a huge, overpriced city, this new telecommute paradigm can have positive and negative consequences.
Pros: this means places like NY and SF will no longer have monopolies on industries. This means Silicon Valley workers and finance banker bros will no longer be forced to pay $4,000 a month to rent a room in some small apartment just because their city of employment gouges them. This could potentially mean an exodus of childfree Millennials to suburbs where they can raise kids, and not have to worry about being a transplant in a large city. I myself come from a small town, and migrated to a huge overpriced city to work in my industry. If I'm granted permission to work at home indefinitely, I'd GTFO here in a heartbeat and go live peacefully in a cabin by a lake, and pay a fraction of my rent costs to own a home. A lot of others like me may follow suit, which would radically shift rent prices. No more can apartments cost so much fucking money in Silicon Valley, because Google and Facebook employees can work literally anywhere.
Cons: greedy companies may use this to their advantage and outsource their work for people willing to work for much less. My company can just get a bunch of Pajeets to do my job and pay them a fraction of what I earn, and whether I work remotely in another state or they work remotely in India, it's irrelevant: the costs to pay for our workstations and office space would still be zero for them, so naturally they'll want someone that will work for the poverty level.
Granted, the latter is worse case scenario, and quite frankly, I don't think they'd stoop to that level, simply because they'd already be cutting costs by forgoing the need for huge skyscrapers in Manhattan or San Fran. I mean, if these big tech or finance companies can have their employees work remotely indefinitely, they wouldn't need these giant multi million dollar office complexes, so they wouldn't have any more reason to continuously cut costs such as hiring foreign workers. I'm trying to be optimistic. But one thing's for sure, this will be like a reverse braindrain for impoverished parts of the US. No longer will people in small towns and rural areas be forced to leave their families behind and seek professional work in big cities: they can code for Facebook or Google from the comfort of their own homes in Small Town USA...and this would really shake up local economies, and fuck with economies of cities.
Im pretty sure my bonus is gone this year... Storage is still waay to full and we work 2 days a week.
I think my industry (let's say it's graphic design) is actually going to do pretty well in all this. The more people are online, the more digital content we're having to create - whether that be safety PSAs or marketing for firms. And everybody working from home will make it easier for the little people to jump into the game.
I'm also curious how many people are going to be upgrading their shoe-box apartments so they have space for home offices.
I'm also curious how many people are going to be upgrading their shoe-box apartments so they have space for home offices.
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This is not just fucking pneumonia. It is everything but the kitchen sink. Lungs, heart, kidneys, liver, brain, blood vessels, testes. It affects them all.
