>>8864412 pb

YES.

YES.

It's not quite as simple as that, but YES.

You can't just snap your fingers and get that done, and probably no one on this board knows exactly how to accomplish this, but the collective wealth and intelligence of the US Government should be able to solve this problem and the taxpayers should benefit bigly.

For the next 24 hours, this crude oil situation is more important than the Covid 19 issue.

There is real crude oil on its way to be picked up, it's not paper oil. Someone (government, a company) needs to "buy" that oil, or be paid to pick that oil up, and needs to move it somewhere, probably needs to remove it from a big tanker, put it in another thing. No one was likely planning for this yesterday, so, quick thinking might be required.

>>8865239

It's not just that this isn't severe enough to "give governments control of everything", it's that, generally, governments suck and make things worse.

Would we have total insanity in the crude oil markets if the government didn't close everything down?

NO.

Things would've gone on as normal.

If governments could do a better job of guessing what the results of their actions would be, maybe we could end up with better results from government action.

But "lets shut everything down" seems to = "no one wants oil" and our markets are structured in such a way that a barrel of oil can be negative $30 a barrel, better to just dump it in the gulf and lie about muslim terrorists.

Fed Gov needs to fill the strategic stockpile to the brim. Fed Gov needs to chat with Exxon/Mobil and whoever else might want a bunch of oil to turn into gas. Fed Gov needs to talk to the owners of the tanker ships who are delivering that oil. Here, tanker ship owner, here's a shit load of money, sit tight and await further instructions. Do you want more money to sit tight? Here it is. Sit tight.

>>8865251

Crude Oil cures Covid 19?

Pepsi, new, improved, now with Crude Oil?

Fed Gov needs to fill their tanks, strategic reserve.

We need to go back to normal.

Have they been cranking out those hydroxychloroquine pills 24/7 for the last month?

In the context we have now, people who talk about tests and ventilators seem to very dangerous faggots.

>>8865252

Jews doing something awful? Say it isn't so. That could not be foreseen. </s>

>>8865318

>>8865318

It's not really "the price of oil" it has more to do with options, futures.

Very few here really know what's going on. But there is oil for sale that no one wants to buy.

people who trade in oil futures, people who were on the long side, some of those people are going to lose a shit ton of money.

I suspect that there are people who hold a piece of paper that obligates them to take delivery of many barrels of oil. Some of those people are bankers, or just, generally, investors. Those people trade paper. Those people are not equipped to take physical possession of oil.

What happened was that people who can't take delivery of oil, could not find anyone who was willing to pay anything for oil today. But they were going to dump a barrel of oil in the rich guys front yard (not really, but something like that). If you had to choose between having paying someone $30 or having someone dump 55 gallons of crude oil in your front yard, many would choose to pay someone $30 instead of having crude oil dumped in the yard.

There might be financial penalties for breaching a contract to pick up the crude oil when and where the contract states. (they aren't dumping crude in someones front yard). These people holding long positions were shitting themselves figuring out what to do when they're obligated to take delivery of oil, they've never done that before, they've never had to do that before, and they know that if they can't do that, they're really really fucked. So, they pay someone else a fuckton of money in order to make the "I don't know to do with this physical oil that I'm obligated to take delivery of" problem go away.

>>8865323

People who were long oil for May delivery are panicking.

People are obligated to take delivery. These aren't oil men. These are business men. They don't know how to take delivery and they can't find anyone to relieve them of their obligation.

But the obligation to take delivery still stands. They're paying people to relieve them of their obligation to take delivery. Oil, to a businessman, is like a waste product, unless they can find someone to pay them for it.

The tankers are coming.

>>8865352

You DO NOT want delivery of crude oil.

The reason why people are paying people to get out of their contracts is because crude oil is NOT something you put in your safe in your house.

People who cannot take delivery of crude oil were holding contracts that obligated them to do so.

>>8865422

I've been reading the comments of people here. Most don't know anything.

You seem to know what you're talking about better than most.

Back in the old old days, the people with futures contracts were people or companies who actually wanted that stuff. Now, it's people who want to make money trading that stuff. Those people are obligated to take delivery, and they really can't, so they're paying to avoid the consequences of having to take delivery of crude oil.

This is much more of a futures market problem than it is an oil market problem. Demand is certainly down though.