Instead Of Bailing Out The Oil Patch, Maybe Our Government Should Give Everyone Vouchers To Use At Gas Stations

Instead Of Bailing Out The Oil Patch, Maybe Our Government Should Give Everyone Vouchers To Use At Gas Stations

But the most unprecedented event of all, something that none of us thought we'd ever see in our lifetimes, was recently watching the price for a barrel of oil go negative.. There's some thought that this is just a temporary disruption in oil markets and speculation that if you buy oil now, and put into a tanker or keep it in the ground for a year, that you're going to be able to sell it in the future at much higher prices.. I'm not convinced that's a low-risk trade, because what's to say that next year there won't be even more supply, with everybody trying to unload the supply they held in storage while upstream producers simultaneously return to market with their prior levels of production.. There's no doubt that demand for oil will rise as the global economy recovers, but the supply problem will still remain and there's no guarantee that anyone holding oil now will be able to sell it for higher prices next year.. In the era when oil was synonymous with Texas, the Texas Railroad Commission could effectively control the supply, and price, of oil.. Along the way, something occurred to oil prices which most economists