That hapens sometime when you have an over supply and no demand. We used to see it on natural gas prices at certain spots because in some areas natural gas is pretty much solely driven by weather and you would actually sometimes see a negative price because producer had no way to store it but couldn't shut down the wells so would end up paying people to take it. The more telling price for crude is the futures market and the next months contract is over 20/barrel so I wouldn't get too worried about the price today.
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Coronavirus and Walt Disney World general discussion
- Thread starter Parker in NYC
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DisneyDebRob
Well-Known Member
Same happened to both of us.
Laughed and got beat up over the.. “ your kidding me” and “ to much money involved” as I kept saying July or August a month ago. Now it looks like my very uneducated guess could also be wrong. There’s just to much involved with opening places like Disney to have any sort of quick opening or lower guest admission or if they check temps and keep distance and open half the attractions , it still won’t work IMO.
I so hope this all goes away and they open tomorrow, just can’t see it for awhile.
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Tom P.
Well-Known Member
The economy of the country cannot remain shut down until 2021. That is absolutely true. However, Walt Disney World and Disneyland, as important as they are culturally, are not the American economy. They are merely a small slice of it, relatively speaking. If it was necessary to keep them shut down until 2021, it could be done. It would certainly not be ideal, and it would most likely involve large government bailouts to ensure these American cultural icons do not close permanently, but it could be done.
Yah, I know. A truck just dumped four barrels on my front lawn and they slid $500 under my front door!
Polynesia
Well-Known Member
Thank you for the advice. I hadn’t thought of that aspect of having it.
Horizons '83
Well-Known Member
- In the Parks
- No
When do we start seeing negative prices for gas? 
DisneyCane
Well-Known Member
It is not a math issue. It is a storage issue. If a lot of people were looking for oil, the price would be going up. Due to the lack of storage capacity, the people holding May delivery contracts fear that it will cost them more to find a place to store the oil than to pay a customer (refinery) to take delivery. Since there is so much oil already stored, the oil delivered in May could need to be stored for a long time.
I don't know what the storage cost is on crude oil but let's say it is $8 per barrel per month due to the lack of storage capacity and the current supply makes it likely that the oil delivered in May won't be sold until November, it will cost $48 to store it. If they expect the price of oil for November delivery to be $30, they would rather pay somebody $18 to take delivery in May and guarantee the loss vs. risking more loss by paying to store it and trying to sell it in November.
The customer is then taking on the transportation and storage cost. It is only the WTI crude that has gone negative so far. Unfortunately, I don't think the distillates are going to go negative so you won't fill your bank account and car simultaneously.
electric
Active Member
That should help with the inventory problem!!!!!When do we start seeing negative prices for gas?
rk03221
Well-Known Member
I used to work at Disney and my wife was a manager there, we know a lot of cms. It’s scary to think what could happen, most of them are younger and not even from Florida. The only reason why 95% of them are down there are to work for Disney and if they are laid off I could see most of them going back to their original state. It’ll be interesting to see what happens but I imagine the central Florida economy would collapse if the theme park workers aren’t able to go back to work in the upcoming months. Most of the apartment complex’s where they live are owned by development companies too and they don’t give a damn if you can’t pay rent. Aside from retirees most of the people working at Disney and UO have everything to lose, they have nothing besides those companies
Sirwalterraleigh
Premium Member
Right...so it’s not being given away - which would be reality if it had “negative value”...Lack of demand is forcing more supply Than the infrastructure can support.
Don’t bail out the shale companies...Is all I’m saying...farewell, Chesapeake
bryanfze55
Well-Known Member
But if both Disney parks will be shuttered until 2021, will other travel destinations? Going to have to bailout the entire travel industry (Disney, airlines, hotels, cruises, and that just scratches the surface)... all with money that doesn’t exist. While possible, this should be a last resort.
Sirwalterraleigh
Premium Member
I think the cruise Industry is over for 2 years anyway...but that’s just me
Airlines aleeady would have to be bailed out...which is inexcusable considering they were scheming/robbing 2 months back.
If we had a collective spine, that would never happen again.
Patcheslee
Well-Known Member
Wow, I've only got a 5th grader so less classes in general. Bad part for teachers is they usually aren't paid once school ends, so 2 weeks lost maybe.
Sirwalterraleigh
Premium Member
They’d be paid the same under that plan.
There’s a bigger problem with teachers being paid and it was eloquently laid out in a briefing today. Congress has a job to do now.
And just as a long term pet peeve: teachers are never “not paid”...they are paid out for their contracted value over the course of whatever academic term it is. That’s not being “unpaid”
I’m not debating they are being paid Enough...I know better than to walk into that minefield
yensidtlaw1969
Well-Known Member
Locals as in New Yorkers? With what money?
Never mind that being stuffed in a room with 1,000 of your closest strangers was something many already considered a liability given how cramped the older theaters are. I've had issues with leg-room at the Broadhurst, and let me tell you I'm not tall enough that I should be running into that problem. Some of these theaters have people literally on top of each other.
There will be some people who will go, sure, but enough to keep paying the bills? Many productions live precariously close to their weekly "nut" already. I can think of a dozen or more shows that could easily sink from any hit in attendance or requirement to sell fewer seats. Some that most would consider "Hits", too.
Broadway won't be bouncing back overnight, unfortunately.
Bill in Atlanta
Well-Known Member
Disney, like every other business large & small, will have to evaluate the risk of opening vs. the risk of staying closed. And to be sure, there is a risk either way. As government restrictions ease, businesses will be faced with big decisions.
At some point, maybe this summer, maybe this fall, maybe next year.. Disney will open and the 2 biggest things will be a) wash your hands and b) don't touch your face. And if you're a germaphobe like me, you've already been doing this for years!
Sirwalterraleigh
Premium Member
It’s a loss...but wdw will live or die with the travel from the mostly eastern us...from Toronto to
Maine, to Florida, to Dallas, to Minneapolis and back around like a monopoly board.
And that’s why there will be a lot of politicking from the dwarf house. They know they need the promise of full operation rather quickly or there’s no point into opening at a loss or no profit.
Rule of acquisition number #1971
Sirwalterraleigh
Premium Member
That “joke a day” book I sent you after the last Johnson premiered is really starting to take hold
bryanfze55
Well-Known Member
Yes, but they may need to be bailed out again depending on the length of the shutdowns. I agree with you on the issues with the airline industry though. But what’s done is done.
Cruise lines and the travel industry as a whole, as well as restaurants, stage theaters, movie theaters, etc. employ a lot of people who, even if they’re being made whole temporarily via unemployment, you have to wonder:
1. How long will that unemployment be able to go? The nation has to finance this.
2. What does a society look like where tens of millions have been deprived of the dignity of work?
Given those two factors, opening the economy for travel and recreation needs to be a priority. Another poster (I guess their post got deleted or removed) discussed the need to shutdown in order for hospitals to ramp up their resources...
I’m all for that - temporarily - say, a 90 day shutdown, at most. The issue is, we need clarification as to why we are shutting down and forcing people to go to food banks and lose the dignity of work. Has hospital capacity increased significantly? Will they be able to handle future outbreaks? Perhaps based on poor communication from our government, we’re not getting a lot of feedback regarding what our shared sacrifice is actually buying us.
What we do know is (thus far), we have not needed the hospital capacity, ICU beds, and ventilators that we thought we would... by a long shot. We should view that as a positive sign of progress and focus on re-opening while increasing capacity as a just-in-case.
Georgia to start lifting restrictions this Friday -
Gyms, bowling alleys, hair salons, barber shops, nail salons and other similar businesses can reopen statewide on Friday (they will need to comply with social distancing requirements and meet other safety standards). Elective surgeries will start taking place again. Some restaurants, theaters will be able to reopen with strict social distancing guidelines next week (bars and nightclubs will stay closed).
The statewide shelter-in-place order will expire on April 30 - the elderly and medically fragile patients have to shelter-in-place until May 13.
www.ajc.com
Gyms, bowling alleys, hair salons, barber shops, nail salons and other similar businesses can reopen statewide on Friday (they will need to comply with social distancing requirements and meet other safety standards). Elective surgeries will start taking place again. Some restaurants, theaters will be able to reopen with strict social distancing guidelines next week (bars and nightclubs will stay closed).
The statewide shelter-in-place order will expire on April 30 - the elderly and medically fragile patients have to shelter-in-place until May 13.
Coronavirus: Georgia to allow some businesses to reopen Friday
Gov. Brian Kemp outlined plans Monday to allow some Georgia businesses to reopen if they comply with social-distancing requirements and other safety standards imposed amid the coronavirus pandemic.
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