Inb4 Hannity and Pirro declare on their shows tonight that, while intentionally dumping millions of barrels of crude oil in the ocean would be *maybe kinda bad*, the economic crush faced by forcing oil companies to sell at negative -$40/barrel would be *the real travesty*.
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Either that or let Aramco or some other flush-with-cash folk like Buffet buy it. Or maybe a nice hedge fund looking for something to do with their COVID bailout money. Fifty at twenty.
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Socialism is bad right up until it's bailout time.
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We'll probably just bail out the industry with billions of dollars in no-interest loans instead of buying it up for cents to the dollar in bankruptcy court. Because "free market" or something.
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Dear Leader did say he was going to instruct the government to take advantage of the lower prices and bulk up the SPR. We've stockpiled crude for decades so we should buy as much as we can store and/or pay folks to store it for us.
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As long as the current private value is entirely taken as well as a contingency against future climate-related liabilities that the government takes on in the process...
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They don’t have anywhere to put it lol
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Nationalize the industry, gradually decrease and dismantle production by x% per year, guide the industry into a soft extinction over the next 50 years. Sigh. We could save the planet and not lose a dime, if we didn't suck.
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