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Politics : Peak Oil reality or Myth, of an out of Control System

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To: dvdw© who wrote (1473)3/30/2020 6:21:30 AM
From: dvdw© of 1481
This article has more detail about the demand side, which imo is the near term key factor going forward.

Duly noted are the rates for VLCC ships to store offshore barrels has skyrocketed putting some estimates at 100 million barrels into an already bloated storage system.

While performing my daily morning observation of the sky, its noted that over a 2 hour period there was Zero air traffic over head. The last time that condition happened was immediately following 911.

Also noted is that there is a grade of Wyoming oil used for asphalt that has fallen to minus .19 cents per barrel which says exactly that the producer will pay the buyer .19 cents to take away its excess supply,

There must be some sharp arbs sharpening their knives in consideration of that one.

Asphalt is a well used commodity whose demand is not subject to lockdown mechanics, like jet fuel and gasoline.
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