Malcolm Moore

Otherwise, they get clogged.

Obviously, like any liquid, all the crud settles at the bottom of these tanks.

There are all sorts of operational problems.

So, A, we need those reserves to make the system work and B, the margin is even tighter because a lot of it is the buffer that needs to be there under all circumstances.

Right.

So, yes, we're getting to, you know, squeaky bum time.

Yeah.

And the oil industry is jumping up and down and saying, hey, we have a real problem here, everybody.

Yeah.

You know, people who trade in equities are just looking at the SpaceX IPO.

OK, so price is now $110 a barrel.

That's for oil for delivery next month.

Right.

You go one month along.

So coming along, you're going to go down to, let's say, 100 and then down to 90, then down to 80.

So what you're looking at is a very steep drop and then gently sloping into the distance because the further out you go,

There's less liquidity.

People are not trading a lot of those contracts.

And also because who knows what the future holds.

So there's just less price action over there.