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A comment on Oil plunges below zero for first time with May contract ending. Parent comment

Re:Oil plunges below zero for first time with May contract e... by nopinsight on Monday April 20, 2020 @03:37PM (#22927562)
Low traffic won't persist long-term, so most people with a job in a city will not move, unless they and their partner both get stable remote jobs.

Increased use for transporting goods is plausible, but generally it is more efficient than transporting people.

For most products, lower oil price might not contribute much to lowering its manufacturing cost, only for logistics, so it's unclear how much induced demand will apply to finished goods.

Transportation accounts for 69% of US petroleum consumption. https://www.eia.gov/energyexplained/oil-and-petroleum-produc...

Energy use (from all sources) per unit of GDP has slowly declined over the years.

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Re:Oil plunges below zero for first time with May contract e... by hermitdev on Monday April 20, 2020 @06:45PM (#22929662)
Not to mention people that can't relocate. I, for one, cannot relocate on account of proximity to my step children (whom I've not seen for months due to quarantine). I'd be perfectly happy to work remotely from a site in Montana, given I had decent internet. But, because of my step children, I can't for at least another 7 years. Until all of my step kids are in college, at least, I'm stuck being in the Chicago area (otherwise, my wife would divorce me if she couldn't see her kids).
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