HSX Forum

Playing & Trading Strategy

Sorry to hear about that

Posted by: bsbbtnh on May 28, 08:12 in response to NeilSite_VanThomas' post I got beat up! I'm currently in the ICU at University...

The oil companies wouldn't technically lose money from contracts going negative, since they already sold it. The contracts went negative because the people holding them realized they had nowhere to store oil, and they were paying people to take their contracts.

Also, their industry doesn't support terrorism. Energy independence subverts the power of Saudi Arabia and dependence on foreign (terrorist supporting) oil. The US isn't part of OPEC. 

 

A good tip in life is to not argue with strangers who are experiencing hardships (financial, job loss, depression, grieving etc) because they likely have far less to lose than you do, and they are more likely to make rash decisions. Plus there are a lot of crazy people on earth, and you never know when you'll bump into one.





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