Wanted: Somewhere, Anywhere, to Store Lots of Cheap Oil - News Summed Up

Wanted: Somewhere, Anywhere, to Store Lots of Cheap Oil


Rhett Kenagy and a high-school pal recently came up with a plan to rent hundreds of school-bus-size metal tanks and fill them with some 270,000 barrels of oil. The two are among the entrepreneurially minded individuals who hope to turn a buck from the crash in oil prices. With demand way down and companies running out of places to put crude, these people are floating schemes to sock it away until prices rebound wherever they can: in caves, abandoned rock mines and even giant pools.


Source: Wall Street Journal May 11, 2020 14:35 UTC



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