Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Transport

When #ElonMuskDay Trends On 4/20, Oil Crashes Below $0 🤪 #CleanEnergyIsWinning

“Elon Musk Day” was trending on Twitter yesterday as many, including myself, celebrated him on 4/20, but what wasn’t planned was oil prices crashing to $0. Actually, oil went past $0 and into negative territory.

“Elon Musk Day” was trending on Twitter yesterday as many, including myself, celebrated him on 4/20, but what wasn’t planned was oil prices crashing to $0. Actually, oil went past $0 and into negative territory. Oil futures opened at their lowest level since just after I was born, and then crashed harder.

Experts have been warning that the price of oil could dip into negative territory, but it’s a different matter to see it happen. Storage places for crude oil have been disappearing as demand has been drying up faster than the fake tears on my face. Honestly, we need to give Mother Earth a break, and what better way to do that than pausing everything from air pollution to oil demand?

Traveling by car or plane has become nonexistent as hundreds of millions of people — or billions of people — around the world have been in lockdown trying to prevent the spread of the coronavirus and COVID-19. Add in other economic activities that involve oil and we have an answer that reflects why the markets are crashing. Right now, oil isn’t needed.

It has gotten so bad that oil companies are willing to pay you to take natural gas from them. You can’t make this up. They are able to afford to do this while still making a profit even though oil prices aren’t high anymore. It was actually reported that profits were still high, but upon the price of oil crashing to below $0, what’s around the corner may be worse than what the industry sees now.

Is it Fate having a laugh as Elon Musk is trending on Twitter along with oil prices dropping? Perhaps. After all, Elon Musk stands for humanity and clean energy, and invests his money into both. This is why many love him and why many hate him. Actually, I don’t know why many hate him — they seem to be bonkers. Why hate on someone trying to help people? It’s senseless.

 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 

Advertisement
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

is a writer for CleanTechnica and EVObsession. She believes in Tesla's mission and is rooting for sustainbility. #CleanEnergyWillWin Johnna also owns a few shares in $tsla and is holding long term.

Comments

You May Also Like

Clean Transport

Originally posted on EVANNEX. By Charles Morris The transition to electric vehicles and renewable energy is already creating winners and losers. We write about the winners...

Cars

This week, on April 22nd, we celebrate Earth Day. It’s not surprising that a precursor, a few days earlier, is the second annual “Elon...

Clean Transport

Even from this short-term crisis, IHS Markit expects no real return to "normal," at least not soon. "However, about one third of the volumes...

Fossil Fuels

With production slowing and a few fossil fuel projects on hold, industry is focusing on squeezing taxpayers for every dime they can.

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.