#OTD On April 20, 2020, WTI crude oil prices crashed below zero for the first time, hitting $37.63 negative per barrel. A supply glut from COVID-19 lockdowns worsened by the Russia-Saudi oil price war filled storage, forcing producers to pay traders to take delivery.
#history #oilpricewar
This is horrifying. Banks getting a pass on decades-long finance rules so they can buy up soon to be bankrupt oil and gas companies, to return them to profitability, so they don't lose their risky loans. Talk about a house of cards.
#divest #OilPriceWar...
"Only a fool would bet their entire economy on one of the dirtiest, most expensive kinds of oil on the planet." @jkenney @TCEnergy
@Tzeporah #cdnpoli #abpoli #OilPriceWar
www.nationalobserver.com/2020/04/07/opinion/kenne...
The New York State pension fund owns 554,516 shares of Whiting Petroleum which just declared bankruptcy after paying out $14.6 million cash to top executives just days ago.
@NYSComptroller another reason to #DivestNY
#oilprice #OilPriceWar...
"There really couldn’t be a better time to wean ourselves off #oil. Even before the spread of covid-19, the oil industry was doing badly. Now that the pandemic is lowering worldwide demand, it’s utterly fucked." @dharnanoor
#tarsands #cdnpoli #OilPriceWar...
"When stocks get pulverized I smell opportunity. But sometimes the smell is a stink literally almost at every price.
That's how I feel about the oil and gas stocks." @jimcramer @MadMoneyOnCNBC
#OilPriceWar #Oil #oilprice #OPEC...
