The Day Oil Prices Went Negative

I knew this was theoretically possible. . .but didn’t expect to ever see it. Basic story seems to be that the US has run out of places to store oil already ordered and on its way. West Texas Intermediate closed the day at -$37.63. . .which is crazy.

Also today the astroturf protests to “reopen America” apparently convinced the governor of Georgia to “reopen” the state this weekend. The current White House guidelines specify that states should see two weeks of falling case numbers prior to removing the social distancing orders, and Georgia’s are still going up. Now they’ll go up extra-fast!

I suppose the real reason for “reopening” is to force the poor people back to work so they’ll be the ones dying off. It doesn’t work that way, though. Lots of wealthier people will get it from their maids, gardeners, children, etc.

Glad I don’t live in a Republican state. Idiocracies every one.