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As the coronavirus pandemic stretches into 2020, the cost of crude oil plummeted to less than $0 per barrel on Monday.
What does that mean? Most on Twitter are confused.
Social distancing orders and self-quarantine mean that many oil suppliers have an excess of crude oil, since energy needs are down. Because the United States is nearly out of storage to keep crude oil, Politico reports, the cost per barrel for oil to be delivered in May fell to a record -$37.63 on Monday. That means that those contracted to produce oil were literally paying buyers to take it off their hands.
While tankers are near-overflowing with oil, the jokes flowed on Twitter
Gonna tell my kids I was alive when oil hit $0
— Soha (@SohaTazz) April 20, 2020
Me swimming through my olive oil bin pic.twitter.com/seKVgdJNTS
— Adam Serwer???? (@AdamSerwer) April 20, 2020
The next stimulus payout will be sent to you in the form of 80 barrels of oil.
— Kate Hyde (@KateHydeNY) April 20, 2020
I bought my wife a barrel of oil for our anniversary months in advance and now i look like a fucking moron
— wife radicalized by STEM (@gloomfather) April 20, 2020
It’s one barrel of oil Michael, what could it cost? Two dollars?
— Richard Butler (@rmdbutler) April 20, 2020
everyone can have a few barrels of oil, as a treat
— Alex Halpern (@HalpernAlex) April 20, 2020
BREAKING:
US crude oil prices just plunged to their lowest level in history. pic.twitter.com/Q2aCgnggZs— Economics in Bricks (@econinbricks) April 20, 2020
OIL IS FREE https://t.co/q7FNUMPJz0
— azfar playing Animal Crossing (@Azfarovski) April 20, 2020
Oil going to start an onlyfans soon
— Luka Donthičć (@landahoy14) April 20, 2020
lot of people making crass jokes about the price of oil but very little consideration being given to those whose loved ones include villainous oil barons. maybe think before you tweet?? ????
— puds???????? (@nightwarning) April 20, 2020
Gonna start drinking oil instead of water to save money
— Thor Benson (@thor_benson) April 20, 2020
the oil industry right now pic.twitter.com/JjoULJPAtm
— bread and poses (@breadandposes) April 20, 2020
the year is 2020. oil is free and a dine-in hamburger is unattainable
— kilgore trout, compulsory consumer (@KT_So_It_Goes) April 20, 2020
Oil at the moment pic.twitter.com/djYlUhU7UY
— Danny Makki (@Dannymakkisyria) April 20, 2020
Trump’s oil advisers right now explaining things to him #OilPrice pic.twitter.com/opOGha7LOv
— KingDead (@KingDeadWolf) April 20, 2020
anyone find it really difficult to focus and do work when there’s free oil out there
— Gene Park (@GenePark) April 20, 2020
The plan? Sell more oil by making it so cheap that we’ll pay people to buy it https://t.co/R2TgfZm94k pic.twitter.com/Q69Ff6gOJ7
— Jules (@Julian_Epp) April 20, 2020
just finished my christmas shopping
every body gets a barrel of oil pic.twitter.com/DuJbjQNjM8— darth™ (@darth) April 20, 2020
Crude is down to $5, which means a barrel of oil is now cheaper than a barrel of monkeys pic.twitter.com/F9ukTOUAWH
— Dave Lawler (@DavidLawler10) April 20, 2020
where my oil barons at. my oil heads
— raandy (@randygdub) April 20, 2020
And despite the jokes, please don’t drink oil instead of water.
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