[OutsiderFan]

Technically this isn't a Covid-19 issue as much as a price war between RU and Saudi, taking advantage of a global crisis to wage war in the oil market.

This is nuts. Oil is now trading at $24!!! That should equate to $.85/gallon at the pump!!!

Shale companies need it to be $40 to break even IIRC.  All these shale companies have been financed by junk bonds. What happens when they default? Hopefully the bond holders aren't teacher's unions, because they won't get paid back for those losses, but at least they'll have cheaper gas for a while!

[OutsiderFan]

Technically this isn't a Covid-19 issue as much as a price war between RU and Saudi, taking advantage of a global crisis to wage war in the oil market.

This is nuts. Oil is now trading at $24!!! That should equate to $.85/gallon at the pump!!!

Shale companies need it to be $40 to break even IIRC.  All these shale companies have been financed by junk bonds. What happens when they default? Hopefully the bond holders aren't teacher's unions, because they won't get paid back for those losses, but at least they'll have cheaper gas for a while!