While I forecasted Negative oil prices were on their way last month, it’s still SHOCKING to see it happen to such a degree. Today, the May WTIC futures contract saw the price drop to a stunning NEGATIVE $38 a barrel. Gosh, I thought we might see slightly negative oil prices,…
Americans are totally unprepared for the coming collapse in the U.S. Financial Ponzi Scheme and Economy. While the highly-leveraged debt-based U.S. financial system and economy were going to implode on their own in due time, the global contagion has sped up the process considerably. Unfortunately, there is no way that…
The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel of Western Canadian Select (oil sands) is…
The U.S. is only in the FIRST STAGE of the country’s oil demand destruction. Since the nationwide shutdown announced by the U.S. Government in mid-March, domestic oil demand has fallen more than 7 million barrels per day. In just the past three weeks, the total U.S. petroleum products supplied to…
In just two short weeks, U.S. gasoline product supplied to the market fell 32%. The last time weekly gasoline supplies were at this level was more than 30 years ago. Unfortunately, the continued lockdown of a large part of the country will negatively impact the gasoline supply market for the…
In the past two weeks, analysts have cut their global oil demand forecasts by a staggering 18 million barrels per day. Never in history has the world experienced such a massive reduction in global oil consumption. The situation in the world oil industry is changing so fast; the market hasn’t…