I didn’t realize we were in the grip of an “emergency”.
Steve…long the oil patch
4 Likes
Steve, I’ve started my seasonal oil trade; I assume you have as well.
DB2
2 Likes
Actually, I have held since last July. Didn’t get the Labor Day bump, so just sat and collected the divis.
Steve
Awhile back I gassed up at $0.49/gal. Kroger fuel rewards program.
Today is around $2.78 which is still $1 higher than 4 years ago.
2 Likes
Four years ago, when the economy was in the dumper, because of the plague, so demand was down?
Steve
6 Likes
dang, it’s cheaper Up North, paid $2.86 at Costco ( and that’s before the 4% discount, which brought it to $2.75/gal )
This photo was taken on April 4th 2020- just a couple miles from my home. I didn’t realize at the time how good we really had it.
–Cliff (pining for the glory days again)
1 Like
Me too, there’s nothing quite like a global pandemic to bring down gas prices. Ah, the good ol’ days!
5 Likes
What’s the point, if there is nowhere to go? I only put 1000 miles on my car between March of 20 and April 21.
Steve
Yup - at one point for several months back in the April to June 2020 timeframe, the price of a barrel of oil actually went negative! I wonder why?
I should have ‘bought’ up a couple dozen barrels then…
Pete
3 Likes
This is the cost of living in a nice 'burb. I drive into Dearborn for historical lectures once or twice a month. The prices offered in Wayne and Dearborn Heights are often lower than here in Canton.
Steve
Yep. Nobody was going anywhere, nobody was buying anything, nobody was selling anything, gas stations had more gas than they knew what to do with, and we were piling up body bags in refrigerated trucks because the morgues were out of room.
It was practically paradise.
3 Likes
Also on April 4, 2020:
New deaths: 1,478
Rarely have we had it so good.
2 Likes
Wasn’t that only (mainly?) in NY where they gravely mismanaged the COVID pandemic by sending sick people to the places where the most weak members of society lived (nursing homes)? As I recall, some politicians lost their job over that grave error that cost so many lives.
Oil only went negative for physical delivery a day or two later. The reason it went negative is because most traditional buyers had nowhere to store it. If you had bought a few dozen barrels, where would you have stored it? They don’t come in barrels, it comes in a tanker truck or some sort (“barrel” is merely a unit of measurement in this case). Not to mention that you can’t do anything with crude oil without access to a refinery.
6 Likes