The April 20, 2020, prophetic date hit much harder than I had anticipated. Oil went seriously negative because the world is awash in oil. Details follow.
This year is on a series related to Noah. The reference date was March 11, 2020. This is the date when the WHO declared a worldwide pandemic, starting the Covid disaster across the planet.
There was a 7 day warning too. That would be March 4, 2020, for those tracking this closely. That date the US media was focused on a nursing home in Kirkland, a suburb of Seattle. (I once lived about a mile from that location. Small world.) 8 of the 9 deaths so far were in Kirkland, Washington. This was the operative epicenter of the Covid outbreak in the United States.
The Seattle area food shelves had been picked clean, toilet paper and bottled water were gone. Panic was setting in. Dr. Anthony Fauci gave a warning that date that a pandemic was likely coming, matching the 7 day warning from the prophetic story.
The next day there was the 178th meeting of OPEC. This lead to discussions which by the following Saturday had opened a flood of oil. Different accounts of the story exist. At least at first to cut off high priced competitors. Especially US shale producers, with apparent blame placed in a Saudi/Russia spat.
In normal times this would be what is called a supply shock. But, with Covid breaking out there was also a demand shock. People would soon be quarantined, stop flying and stop most other activity. Nobody would want oil, a demand shock.
April 20, 2020
Many news sources started tracking oil storage capacity in the USA. Most hard commodities can be piled up in heaps. Grain, coal, aluminum ingots and so on can all be piled on the ground.
Oil is different. It requires sealed tank storage and there is only so much of it. When it gets full, the oil flow must back up, all the way to wells.
It costs money, though, to shut off wells. So some producers want to keep pumping. But, of course, they cannot if the tanks are really full.
Fear of this scenario struck the oil futures markets on the prophetic date of April 20, 2020.
In this case oil is the fluid. And it looks to be stored everywhere that can possibly hold oil.
Futures prices are set for different grades of oil and in different locations. Many of those grades are settled at Cushing, OK, because of Tulsa's history as the traditional capital of oil in the USA. A pipeline system radiates from Cushing and there is a massive tank farm at that location.
Remember, futures are used to spread production of product into the monthly demand for product. What is fundamentally being traded is warehousing space. This is why Cushing is a key location in oil futures, they have the space to store oil across time.
Across the oil futures complex, prices ranged from negative $21 per barrel to negative $54 per barrel. It was worse in areas without ready means to market. Analysis later in the week points at areas that will be particularly hard hit. Oil production in western Canada, for example, normally sells in the USA. But, the USA is awash in oil. So, those oil fields in Canada risk shutting down.
This panic only lasted late in 1 day, the prophetic date, and cleared soon in after hours trading. The next day was the day contracts are settled, so this was a prophetic panic, and not just a problem into closing.
Different sources say the tanks at Cushing were full, or perhaps nearly so. Details are unclear. All systems with momentum risk destruction on sudden stops, and the oil flow across the world is such a momentum system. This is why negative prices can happen. The pressure wave back to well heads risks financial damage and producers what to avoid it.
Turns out, shutting down wells is expensive. Shale producers cannot service debt, and will likely see widespread shutdowns. They are also unlikely to resume for years. So paying buyers to take oil is less expensive than shutdowns. But with a full storage complex this cannot happen.
If this was planned in advance, someone really gamed it out well.
There has been quite a few conversations about this date, with many calling or sending questions.
I planned a talk for tomorrow (Saturday, April 25, 2020) on this topic. But, as I was preparing I was also getting questions about future dates. I reread the Noah story carefully and realized I know better how to read it.
There are substantially more dates than I first realized. My read of Noah comes originally from the first Persian Gulf war, and that when I was first starting out on the Timeline work. It was just after 911, almost 19 years ago when I cracked the math originally on Noah.
Later I learned how to do prophetic reads, but never thought that Noah would open up under a prophetic read too. This radically changes how Noah sits across the master timeline. It changes how it points at surrounding stories, especially the prelude stories that made little sense in 1990. In that case it will back up to, or very near, the Iraqi invasion of Kuwait.
To cut this short, the next prophetic date is May 30, 2020. There are 2 more after that and before August 8, 2020. This is a hot prophetic season and it will see several more dates. The prophetic gut that several have had is correct. It also backs up to the early dates of the outbreak in China.
The actual story for each date is also going to shift a little. I have yet to work out the details. Will post again here as I know more.