First ever negative crude price!

North Dakota is actually paying people to take their oil! I made this joke earlier today when we watched the oil price fall by nearly 6%, I said, “Max, Saudi Arabia is going to lose this war because they can pump all the oil they want, the US can just print so much money and pay consumers to take their oil.” I was just joking. I didn’t mean for it to ever be real.


Bear in mind that this particular grade of oil is sludgy crap and will cost a lot to refine, but still . . . what has the Fed wrought?

4 comments on “First ever negative crude price!
  1. Flopot says:

    @Stacy

    You really sure it is just about the fracking? Everything else is just a bonus for the AZE?

    http://www.sott.net/article/310410-Venezuelas-President-Nicolas-Maduro-declares-60-day-state-of-economic-emergency

  2. Maybe it is time to start on a book about Alice’s adventures on economics.
    There’s oil in the shale under Somerset I am working on a plan to be paid to leave it just where it is by selling it on the distant future’s markets for carbon keep captured…
    “Curiouser and curiouser” said Alice

  3. Flopot says:

    ^Linked from The Youri.