Yes, very much so yes, and we also need to take a pre war footing just in case.
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Absolutely! We should fill the strategic oil reserve. Tesla doesn’t build tanks!
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No. Cut finished products (gasoline, etc) entering the country. WTI/Brent delta already favors WTI over Brent. However, imports stop local refiners from ramping up production
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That's why WTI is through the floor. American refiners were cut back to satisfy American demand instead of foreign refiners, creating a crude backlog in USA
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Ask who is buying Saudi crude and why. Gulf coast refineries are set up to process imported heavy sour crude into higher margin refined products. US producers were exporting West TX crude to China. It’s not a simple yes or no question.
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No. But more people will be laid off. The companies will close the taps for a bit now
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It ain't that easy
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Can you explain? You're one of a few who say no, I feel like this is probably correct if for no other reason then it's government meddling.
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According to a cable station I don't watch via Zero Hedge Oil prices turned negative. Hundreds of US oil companies could go bankrupt The American Oil Industry Is Facing a Doomsday Scenariohttps://krdo.com/money/2020/04/20/american-oil-crashes-below-0-a-barrel-a-record-low/ …
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