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fauigerzigerk
on Aug 5, 2020
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London traders hit $500M jackpot when oil went neg...
But they don't have the storage capacity, otherwise prices would never have gone below zero.
amelius
on Aug 5, 2020
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You don't need storage if you immediately burn the oil?
MaxBarraclough
on Aug 5, 2020
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To mirror fauigerzigerk's point: The power demand is already being met by the existing system. How could you profit by burning the oil immediately for power generation?
fauigerzigerk
on Aug 5, 2020
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How much can they possibly burn immediately upon delivery and which other fuel would it replace?
I don't know for sure, but my hunch is that it's insignificant in terms of extra carbon emissions.
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