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Transcripts For RT The World According To Jesse 20240713

Over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time 1st lets go back to the end of the vietnam war when the war ended in vietnam we had plenty of gas we were supporting the war machine war machines require huge amounts of gasoline and oil yet when the vietnam war ended what happened there was an oil shortage how could there possibly be an oil shortage when the war is ended and were using the last were now using the less well they held it back they created their own shortage because then all of a sudden gas before that was double digit under a dollar a gallon well when

Transcripts For RT The World According To Jesse 20240713

A delivery would have actually been paid to accept it rather than paying to buy it to better understand this lets look at the most widely followed Oil Futures Contract in the United States west texas intermediate crude its june contracts fell over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time 1st lets go back to the end of the vietnam war when the war ended in vietnam we had plenty of gas we were supporting the war machine war machines require huge amounts of gasoline and oil yet when the vietnam war ended what happened there was an oil shortage how could there possib

Transcripts For RT The World According To Jesse 20240713

Negatives for the 1st time in history as demands dries up due to the global coated 19 pandemic on monday the price of crude oil fell to negative 37. 63 so anyone expecting a delivery would have actually been paid to accept it rather than paying to buy it to better understand this lets look at the most widely followed Oil Futures Contract in the United States west texas intermediate crude its june contracts fell over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time for sed lets go back to the end of the vietnam war when the war ended in vietnam we had plenty of gas we wer

Transcripts For RT The World According To Jesse 20240713

19 pandemic on monday the price of crude oil fell 8 to negative 37. 63 so anyone expecting a delivery would have actually been paid to accept it rather than paying to buy it to better understand this lets look at the most widely followed Oil Futures Contract in the United States west texas intermediate crude its june contracts fell over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time for sed lets go back to the end of the vietnam war when the war ended in vietnam we had plenty of gas we were supporting the war machine war machines require huge amounts of gasoline and oi

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