Category Archives: oil
Government Killing Jobs at all Levels
Government is killing jobs at the state and federal level. People too, if you’re Gov Cuomo sending Covid to nursing homes.
John Kerry has the solution. One word – “Solar Panels.“
Uncle Sam Blew $3 Trillion on the Virus in Six Weeks
Uncle Sam blew $3 trillion on the coronavirus in six weeks. But the bug is still laying waste to the economy. And the Congressional Budget Office projects a deficit of $3.7 trillion this year. What to do? Hit it with more money.
Oil Has a Negative Attitude
Now even oil has a negative attitude. The price of West Texas Crude went negative yesterday. Nobody wants to buy the stuff. So producers were theoretically willing to pay you $37.63 at one point to take a barrel off their hands.
That was the price on a May contract which expires today. So if you have a tanker parked somewhere, now’s the time. The price on June contracts and later should move back up to positive territory.
Pippa Stevens at CNBC explains why.
Meanwhile, negative interest rates could be on the way to a bank near you. Thanks to negative rates in Europe and Japan, savers pay institutions there to store their money for them.
And, if you’re feeling nostalgic, here’s a cartoon in memory of high gas prices.
Bernie Quits Before Drug Companies Find a Cure
Bernie quit just as things were finally going his way. Thanks to Covid-19 the government is spending like crazy, we have fee health care and fracking is dead. So he’s dropped out of the race.
Smart move. Drug companies big and small are working on treatments and vaccines. And before you know it, we’ll right back where we started.
Race Against Time, Virus vs. Savings
It’s a race against time. Can the virus be spent before your savings?
701,000 American jobs were lost in March and the unemployment rate rose from 3.5% to 4.4% in one month according to the WSJ.
Meanwhile, The Guardian says about 35 companies are working on a vaccine and Moderna is about to begin human testing. And “many many‘ groups are working on immunity-giving antibody tests that provide results in minutes.
