Funny how MSM's are not covering this.
Stupid.
The people who lose their jobs over it.
…and everyday rig hands make that kind of money?
No, they don't.
They make enough to live on paycheck to paycheck.
Rigs get stacked, machine shops lose jobs, other industries that work with oil companies lose jobs.
It's a big deal when oil gets that low, because oil and natural gas effects a shitload of other industries.
Do you know what the cost of living is like out in Midland and Odessa Texas?
It's high as hell.
Loan business and oil industries are 2 completely different entities and work completely opposite of each other.
Your example is fake and gay.
Too true, anon.
Your proving without doubt you know nothing about the oil industry.
Fuck off with your shill comparisons of paper trading.
Look at real life instead.
They DO have a mutual destruction agreement.
Would have been better to freeze the Market and shut it down at the prices things were at, until this blew over, then restart.
Would have had to wait, thus no losses or gains no algorithmic bullshit running.
Try again on next bread, only next time, rotate it 90 degrees clockwise.