
US Oil prices turn negative as demand dries up - boffinism
https://www.bbc.co.uk/news/business-52350082
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dustinmoris
I know nothing about the oil industry and would like to know if this news
should be of any concern to the average citizen or if the majority might
actually consider this as extremely welcome news as we should be looking to
reduce our fossil fuel footprint anyway?

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miketery
A non trivial part of the economy depends on oil prices staying above a
certain level. Producers and Services companies in particular. That's a lot of
jobs. We are likely looking at further lay offs and mass defaults on bonds.

Also possible environmental impact from abandoned wells, or defaulting on
cleanup obligations.

Probably more I'm missing.

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dang
[https://news.ycombinator.com/item?id=22923025](https://news.ycombinator.com/item?id=22923025)

