Changes To The TSA Screening Process

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About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Comments

  1. With some oil prices having gone below zero today, we live in interesting times. Welcome to what happens when storage capacity gets maxed out due to too few buyers even at the extremely low prices.

    Can these extremely low oil prices stimulate the economy quickly at this point in time? Which travel and transport service providers will gain most from this situation? Delivery/courier services?

  2. @GUwonder: it is oil futures, not oil prices, that have dipped negative. When you buy an oil future of say 1,000 barrels at a certain cost, you commit to buying it at that cost at the date the future matures. When you were just speculating, i.e. you bought the future at $10 in the hopes of being able to sell it at $10+ but below the actual barrel cost at that time, you have made money. But if it goes below your offered price, you will now have to sell the future, or accept delivery of the barrels of oil. Problem is, most future traders are that – traders. Not oil barons. So… they have no physical place to store said shipment, and are looking to off-load their commitments. Because of the enormous surplus in oil at the moment, storage comes at a premium. So the future traders are selling oil at a negative price to just get it off their books. Hope this helps (hat tip to Marketwatch yesterday, who explained this in a way that I understood it).

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