Oil Futures in the negative (and how this relates directly to CFB donations)

[dantheman4248]

Makes you think what will happen with donations. Strictly in the SEC I know this hurts Alabama, LSU and A&M the most. How "Oil Money" are we at the top? This could have serious ramifications of the power structure in college football as certain people won't get paid their under the counter salaries.

[Dolphus Raymond]

The total collapse of oil prices will hurt Mississippi and other states for a good while. The economic blow-back from this is and will continue to be, significant. Just damn.

[TrapGame]

Oklahoma State is screwed then.

[Lord McBuckethead]

If you had a place to store a few million barrels, today would be a good day to buy and stock up. Buy a million barrells and they give you 20 million to take them off their hands and they give you the oil. Sounds like a good deal, that is if you can actually take delivery.

[Jack Lambert]

I thought it was only West texas oil that was down to close to zero but oil on the crude market was up around 26.00.

[Jack Lambert]

If you had a place to store a few million barrels, today would be a good day to buy and stock up. Buy a million barrells and they give you 20 million to take them off their hands and they give you the oil. Sounds like a good deal, that is if you can actually take delivery.

Nobody anywhere can store it. They don't have the compacidy. They already at 100%. I think the United State goverment could but the money would have to be approved to restock the strategic oil reserve.

[Cowbell]

Cash price of West Texas Crude was $6 last week so most oil guys saw this coming. They have no storage left.

I remember starting a thread on here a few weeks ago about how the economy was going to hurt really bad because of this and getting laughed at by several.

[dantheman4248]

I thought it was only West texas oil that was down to close to zero but oil on the crude market was up around 26.00.

Feel like WTI is going to relate more to the money guys in college football than the others. Though smart investors diversify their portfolio, Brent "holding" at $26 is still not that great for them.

[Jack Lambert]

Cash price of West Texas Crude was $6 last week so most oil guys saw this coming. They have no storage left.

I remember starting a thread on here a few weeks ago about how the economy was going to hurt really bad because of this and getting laughed at by several.

I have filled my car up with gas once in four weeks. I usually in that period of time do five fill ups. I have extra money for toilet paper. A lot of good that has done me but I do spend it on take out food to try and help local restaurants.

[Jack Lambert]

Feel like WTI is going to relate more to the money guys in college football than the others. Though smart investors diversify their portfolio, Brent "holding" at $26 is still not that great for them.

My cousins husband is a ferry boat captain of a boat that transport oil workers. For years he live an expensive life. He made a ton of money but spent a ton of money. He has been struggling now for a few years. He lives in Houston and that is not a inexpensive place to live.

[Dawgbite]

I bought a new truck the end of February and it still has less than 900 miles on it.

[RocketDawg]

Nobody anywhere can store it. They don't have the compacidy. They already at 100%. I think the United State goverment could but the money would have to be approved to restock the strategic oil reserve.

Correct. So why not just leave it in the ground for a while longer?

[redstickdawg]

Nobody anywhere can store it. They don't have the compacidy. They already at 100%. I think the United State goverment could but the money would have to be approved to restock the strategic oil reserve.

The SPR has been full for a while. There is no place to put the oil or anything else in terms of petroleum products.

[turkish]

How much of a barrel of crude is used for passenger vehicles?

[redstickdawg]

Correct. So why not just leave it in the ground for a while longer?

That's certainly going to happen along with a tremendous amount of pain for many, many people. There's going to be a depression in the oil section of the global economy. Deflation is a nightmare scenario.

[Jack Lambert]

The SPR has been full for a while. There is no place to put the oil or anything else in terms of petroleum products.

I am no expert.

[dantheman4248]

Correct. So why not just leave it in the ground for a while longer?

It's cheaper to do what they are doing that to stop production. Stopping pumping takes a lot of money.

[Pinto]

Without comment.

http://dlvr.it/RV7Z9K

[Jack Lambert]

It's cheaper to do what they are doing that to stop production. Stopping pumping takes a lot of money.

Aren't they going to have to shut down here shortly to switch to summer blend? Something they seem to do every year.

[Ezsoil]

Without comment.

http://dlvr.it/RV7Z9K

What that idiot does not understand ...the price of oil just made the green economy even less economically viable than it already was... and she has a degree in economics..