Cable Forum - Coronavirus (OLD)

BREAKING: Price of Oil plummets to a record low level of $1.92 a barrel due to global decline in Vehicle usage due to Coronavirus and Saudi-Russia Price war!!! :eek:

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Quote:

Originally Posted by Mick (Post 36032161)

BREAKING: Price of Oil plummets to a record low level of $1.92 a barrel due to global decline in Vehicle usage due to Coronavirus and Saudi-Russia Price war!!! :eek:

Correction, is now less than $1 a barrel!!! :eeek:

papa smurf

20-04-2020 19:00

Re: Coronavirus

Quote:

Originally Posted by Mick (Post 36032161)

Petrol still 105ppl near me.

Mick	20-04-2020 19:01

Re: Coronavirus

Quote:

Originally Posted by papa smurf (Post 36032163)

Petrol still 105ppl near me.

Give it a month, they'll pass it on. ;)

denphone

20-04-2020 19:03

Re: Coronavirus

Quote:

Originally Posted by papa smurf (Post 36032163)

Petrol still 105ppl near me.

Petrol 102.7p just down the road from us.;)

Mick	20-04-2020 19:23

Re: Coronavirus

https://pbs.twimg.com/media/EWEKnDFW...png&name=small

---------- Post added at 19:23 ---------- Previous post was at 19:04 ----------

AFP NEWS AGENCY: #BREAKING US benchmark WTI #Oil collapses to $0.01/barrel in New York

denphone

20-04-2020 19:27

Re: Coronavirus

Given the total collapse in demand some countries are running out of capacity to store it l hear.

Mick	20-04-2020 19:30

Re: Coronavirus

Quote:

Originally Posted by denphone (Post 36032170)

Given the total collapse in demand some countries are running out of capacity to store it l hear.

Quote:

Ed Conway, Sky Economics Editor:

Utterly extraordinary. US crude oil prices just dropped into NEGATIVE territory. Current price of a barrel of WTI oil for delivery next month: -$1.43.

How does this work, if I order 1 Million barrels, do they have to pay me $1.43 to take it. making me over a $ 1 Million richer.

Taf	20-04-2020 19:34

Re: Coronavirus

Quote:

Originally Posted by Mick (Post 36032171)

How does this work, if I order 1 Million barrels, do they have to pay me $1.43 to take it. making me over a $ 1 Million richer.

Yup, they pay you to take it off their hands. Similar happened a while back with North Sea gas. The savings were not passed onto consumers though.

Hom3r

20-04-2020 19:37

Re: Coronavirus

Quote:

Originally Posted by denphone (Post 36032148)

Some thoughts here from former PM Tony Blair as he publishes a potential exit plan from lockdown.

https://institute.global/sites/defau...ing%20Harm.pdf

As a former Liebour voter, he can take that plan and stick it only were customs officials dare go.

Pierre

20-04-2020 20:19

Re: Coronavirus

Never thought I’d see the day when oil was worthless.

Of course it’s temporary, but still........holy shoot.

Paul	20-04-2020 23:20

Re: Coronavirus

Quote:

Originally Posted by Pierre (Post 36032159)

This perfectly sums up how feel about the media currently.

The last parts particularly ;

Quote:

I didn’t read a single journalist in January or February who predicted that Britain would be locked down in March. I read lots of journalists who said that Covid 19 would be no worse than seasonal flu and we had nothing to worry about. I didn’t read a single journalist who in mid-January accurately predicted how the virus would spread worldwide nor one who said that we should lockdown immediately.

Quote:

If we had had the modern journalist profession in 1940, we would have lost the war. They would have complained about the Governments disastrous mistakes at Narvik. It should have known that the Maginot line wouldn’t work. Journalists would have demanded that Churchill should have been immediately sacked for the defeat at Dunkirk.

Quote:

They would have described our situation as hopeless and would have ridiculed our ability to fight them on the beaches and would have said it was mere arrogance to suppose that our pathetic little country could have a finest hour.

1andrew1

20-04-2020 23:47

Re: Coronavirus

Quote:

Originally Posted by Paul (Post 36032194)

The last parts particularly ;

Agree with the first excerpt but the other two excerpts are just strawmen arguments which only undermine the article.

Paul	21-04-2020 03:05

Re: Coronavirus

Quote:

Originally Posted by 1andrew1 (Post 36032195)

Agree with the first excerpt but the other two excerpts are just strawmen arguments which only undermine the article.

In your opinion ;)

The second one is partly spot on IMO.
Its doubtful we would have lost the war, but the rest is spot on.

The last one is a bit iffy at best.

pip08456

21-04-2020 08:24

Re: Coronavirus

Quote:

Originally Posted by Mick (Post 36032166)

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---------- Post added at 19:23 ---------- Previous post was at 19:04 ----------

AFP NEWS AGENCY: #BREAKING US benchmark WTI #Oil collapses to $0.01/barrel in New York

Brent Crude is still about $27 a barrel.

Hugh	21-04-2020 08:28

Re: Coronavirus

Quote:

didn’t read a single journalist in January or February who predicted that Britain would be locked down in March. I read lots of journalists who said that Covid 19 would be no worse than seasonal flu and we had nothing to worry about. I didn’t read a single journalist who in mid-January accurately predicted how the virus would spread worldwide nor one who said that we should lockdown immediately.

First one has a problem with a strawman proposition as well - no journalist has said that that we should have locked down in January and February.

And since WHO didn't declare a Global Emergency until the 30th January, and were still saying on 25th February it was too early to call the outbreak a pandemic, if they had, surely they would have been scaremongering..

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