The reason oil dropped to below $0 a barrel is due to the way in which oil is bought and sold. Essentially, you buy and sell oil as slips of paper that contractually obligate you to pick up X barrels of oil from a given company on a given day. However, the person purchasing this contract usually does not intend to purchase or transport the oil themselves. It's in their interest and profitable to them to trade these contracts as the price of oil fluctuates. Corona led to a number of contract intermediaries not being able to sell their contracts, which means they would become responsible for the transport and storage of millions of gallons of oil once said contract came to fruition. Because of this, they were desperate to sell these oil contracts seeing as how they had no means to transport or store the oil themselves resulting in the price of oil falling to less than $0. They were paying people to take these contracts because they couldn't fulfill them as a financial firm. Hope that clears things up :)

@pvic6959

3 жыл бұрын

wow explained it really well, thanks!

@elijahdage5523

3 жыл бұрын

Warehouse gang.

@echosmyth5021

3 жыл бұрын

Yup, kind of like paying a junkyard to come pick up your car because you don't have the means to break it down into scrap that would actually be worth money.

@techtheawesome3914

3 жыл бұрын

Theres a good video on Economics Explained channel if anyone wanted more detailed on that ^^ just watched it like 2 months ago, the world is small indeed.

@Theo_Caro

3 жыл бұрын

Great explanation. Just wanted to add that these kinds of contracts are called "futures."

i would say that this actually made a difference.

@antishulk

3 жыл бұрын

oh yeah

@nk6197

3 жыл бұрын

Kool aid missed the chance to say oh yeah

I hope you sleep really well, being back on solid ground. You deserve it. Your actions are making a difference, and it's inspiring us. All the best to you

@time-lapseseb1141

3 жыл бұрын

Szia Józsa! Well, I can agree with that, all the best to you Curtis, and everybody, who is with you! Fortunately Canada is more civilized, than Hungary, here a few protesters would have no chance against a multi billion dollar company. The politicians, police and the court would leave no no chance at all! I still hope, that someday soon the influental people and even corrupt politicians will realize how precious our nature and environment is!!!! Greetings from Hungary!

Now THAT'S what being an influencer should be like. What a hero, inspiration, and educator.

Congrats and thank you on an amazing week! Must be weird to be on solid ground again haha.

@ScopeofScience

3 жыл бұрын

My legs are all wobbldigook

@8thy

3 жыл бұрын

​@@ScopeofScience Instead of oil pipes let's get you a walking cane for a few days for them haha. Stay safe though;p

This was such a journey to follow! Thank you for awakening the environmentalist inside me

@ScopeofScience

3 жыл бұрын

Lets Do This!

@nadn1399

3 жыл бұрын

@@ScopeofScience Yeah! Your videos have honestly motivated me to live more minimalistic, greener, and made me much more active in the fight for climate change! The horror of not being able to bring kids into this world in fear for how their lifetimes will be is a great motivator!

Take a well deserved break!!! Thank you so much for bringing this action to my attention!!!

Welcome back to the ground Kurtis, to where all the oil belongs 👍... in the ground! Renewable energy is our future 🌎

Yay, welcome back to earth! Amazing job!

@ScopeofScience

3 жыл бұрын

Thanks sis!

Welcome back to terra firma! Hopefully they will not be able to extend their window and will have to reevaluate their construction plans!

You’re insane. I can only imagine the time you have. You’re livin’ my dream.

Thought you said it’d be more than 10 days, but still incredible! I agree with Rick Yao that this has definitely made a difference.

@ScopeofScience

3 жыл бұрын

I said we've already been up here more than 10 days. Dr. Takaro was up here before me, and we're continuing to take shifts up there. We'll need to occupy the space for at least another month - but we don't need that to be done by one person.

@Xaviur

3 жыл бұрын

Kurtis Baute Understood, but in a previous video you mention Dr. Takaro was there for 10 days and you said, “I’m not gonna say how many days I’m going to be up here, but it’s going to be way more than 10 days.” I probably misunderstood what you meant though, did you mean you’d spend collectively more time rather than consecutively?

I wish I could do something similar... but I can't even convince my own family and community to wear a mask for protection against the spread... how the hell will I convince them that climate change is a real threat?

@symbioticcoherence8435

3 жыл бұрын

Pick your battles, start small. Find a community to back you psychologically or else you will suffer and you might start to feel hopeless. I always tell the corona fanatics "wearing a mask is the cheapest way /by far/ to stop a pandemic." or "Wearing clothes is required /BY LAW/ when going into public spaces and people will refuse service, insult you and /call the police/ if you run around naked. I never heard you complain about that." (that is true where I live, maybe it works for you as well) "We have been waiting for a miraclous technology to solve climate change for us, and that technology is /finally/ there. Let's use it. The price of photovoltaic and of wind energy has fallen dramatically in the last 3 decades (from 30,000$ to 300$ for 1kW peak power of solar energy)."

@OLBICHL

3 жыл бұрын

@@symbioticcoherence8435 I guess I already found a community :D am I glad that the internet and KZread is a thing

@OLBICHL

3 жыл бұрын

@Jiwon Chang that sounds too familiar... I was the only not white guy in this special german class... I had lost my dad and my mood wasn't the best but one day one of my classmate wanted to show me his artistic talent and made me a swastika, fun times... I followed my mother's terrible advice and staid in that climate for 3 years until I snapped... depression is a b**ch!

Your daily videos were something I looked foreward to every day and it gave me a little hope.

@ScopeofScience

3 жыл бұрын

That is so encouraging to hear. Thank you. I'm planning to switch to a weekly schedule soon :)

I don't like how the YT algorithm apparently unfavors your last videos. They are of real importance. Keep commenting, lovely humans here so we can push this a little bit. I want more people to see these 7 videos 💚

Great job. You are doing great, even spreading this message is important

Thank you Kurtis, we appreciate your hard work and sacrifice.

Thank you for making a difference. Thank you from the bottom of my heart. You are amazing! This of course goes for everyone who is there!

Just donated. What a noble cause with some old school protesting. Love it. Keep going.

That's a good chunk of their time :D Awesome work you are doing!

I admire your dedication, you've inspired me to see what I can do!

I wish this got more support, and that you didn't lose those subscribers. I'd say that you definitely helped make a difference, and I'm glad you're spreading this message, along with making resources and information about this subject easily avaliable. :)

Great job on this series! I'm sure some new eyeballs got brought to this project and it's issues as a result. Every single one counts.

Thank you (and your fellow tree-dwellers) so much for doing this. I believe in you!

Thanks for doing the hard work, donated some New Zealand Sheckles to the cause

This human is what passion and courage look like physically.

I’m proud of you. Thanks for sharing this

well its been a wonderfull 7 days

@ScopeofScience

3 жыл бұрын

It certainly has for me, a loud, but spectacular week.

Thank you Kurtis. You really are a good person. I salute you.

Thanks Curtis, every one of your videos was inspiring and thought provoking and you really made a difference. Glad you're home safe mate.

🙏 we are with you in this. Thank you Kurtis.

You didn't really explain why you came down or who will be in the tree next (although it seems someone is from the way you talk about the project)

@coolfred9083

3 жыл бұрын

The person before him stayed for 10 days I think, it's probably quite tiring to be up there for so long.

@ScopeofScience

3 жыл бұрын

We are taking turns up there. Yes, we're continuing to occupy the canopy. The current person is anonymous.

Good job!!

Well done. I was there providing moral support yesterday when you came down. I tried to find you last week but I was looking in the wrong place. I hope more people get up in the trees.

@ScopeofScience

3 жыл бұрын

Thanks for your support!!

welcome back to solid ground. it was incredible to watch your journey! keep up the amazing work!

@ScopeofScience

3 жыл бұрын

Thank you Miriam! I appreciate all your help and support :)

Thank you for your work. Much respect

Thanks for what you've done!

Welcome back! What a journey 😯

Thank you for doing this!

Well done Kurtis, you are an inspiration, keep up the good work.

Your passion and dedication moved me to donate. Good luck!

Donated. Thank you for doing this, it is incredible.

This was a very good idea to share this with us and show that we can make a difference. I'm just sad that in a meantime, developing countries are cutting everything and noone over there care about it.

Thanks to you for doing this

Congratulations 🎊

When you are doing this and your mum buys a diesel car and replaces her garden with artificial grass.

See? Making change without burning shit down. Keep it up man. You are the exact type of person I want to become. (I’m in 9th grade)

congrats man

You’re doing good!!

Good job mate

congratulations and thanks you for this. this means the world (maybe literally?) and it is inspiring, as well as your videos. thanks.

Teamwork makes the dream work!

Enjoy your well-deserved rest, Kurtis. I'm sure you'll be back at trying to make the world a better place once you wake up.

I've seen some of your more viral videos before, and now after just seeing the flat earth one I decided to check out your channel and all I can say is wow... you are doing some incredible work. I wish these videos got as much traction as the others, I think this is so important.

“It doesn’t make a lot a sense for insurance companies.. because I mean, it doesn’t make any *cents* at all.” ;D a pun for climate change >0< Love what you’re doing, we need mo action like this. Not gonna let the pandemic stop us from fighting against climate change! It’s honestly ridiculous how they HAVen’t already canceled the Trans Mountain Pipeline. All of your videos are just so cool and educational, and I just am SO inspired by your videos. What you do is SO AWESOME.

Oh, I thought you said you were going to be longer, what changed? In any case, you did (and continue doing) great work for the planet!

@ScopeofScience

3 жыл бұрын

Nope - never said how long. A week was always my plan. Thank you!

That was courageous

I hope tomorrow or in another day, you can go back to the camp and interview people there.

Pretty cool .

You're one of the best humans alive right now

Cool!

I would say based [7] but this is fair enough

I was engaged with this content. I hope we all are more engaged as time goes on

Awesome job! Who is up the trees now?

Videos like these, I think, are really helpful. Climate action is always seen as this nebulous thing, where you have to extrapolate the benefit of putting a bottle in a different box (recycling) to somehow changing the temperature of the planet, without anything really concrete connecting the two. Getting lost in tonnes of CO2, degrees Celsius, and meters of sea level rise makes it difficult to see the trees for the forest. I really like seeing stuff like this, where obvious actions have obvious benefits. It may not be how most climate action needs to happen, but it's helpful to see that there is clearly meaningful work being done.

Thank you for doing this and doing what you can to help! Just curious, have you thought of running a 5 volt wire up to there for USB stuff instead of using batteries?

@ScopeofScience

3 жыл бұрын

The camp doesn't have a power connection, so either way we'll have to cart batteries in. Its not that big of a problem to bring stuff up the pulley - I needed all the exercise I could get up there.

Just Donated 👍

How did you poop in that tent lol Good job btw !! Nice to see a person care for the environment so much !

just made a donation!

im not one that is really for protests but this one is actually saving billions of lives

I wonder what your take on the experimental geeeeeeen therapeeeeey shots are.

I sincerely hope we win this. I say we because this benefits the world.

Putting up the good fight, you have my money dear sir

👏👏👏👏👏

How did you "go to the toilett" is what I wonder. How did that work?

The oil price dropping below 0 meant that the oil companies drilling it out the ground were paying refineries and end customers to take the oil off of there hands

@ScopeofScience

3 жыл бұрын

Even with billions of dollars of subsidies, they still can't make a dollar selling this stuff.

@williamPearcewill

3 жыл бұрын

@@ScopeofScience basically the system takes a long time to adjust to supply and demand so when coronavirus hit and the world shut down it took a month or so for the industry to react cause u can't just switch oil off

Done. :)

BASED

@aneeshprasobhan

3 жыл бұрын

based on ?

@JoaoOliveira-zr4jw

3 жыл бұрын

@@aneeshprasobhan BASED

@andrewsav4865

3 жыл бұрын

@@aneeshprasobhan Based is a neologism/colloquialism used to describe someone or something that is correct and agreeable in an ideological context. A person might say "based" about someone who shares and executes their ideological opinions. It's kinda difficult internet slang to explain, you just sorta have to see it in context enough until it makes sense.

@JoaoOliveira-zr4jw

3 жыл бұрын

@@andrewsav4865 nope wrong dont know where you got that information from but its wrong buddy

@JoaoOliveira-zr4jw

3 жыл бұрын

@@andrewsav4865 "Often used in contexts where the action or opinion ignores popular trends and social conventions or requires special effort. "

1:30 ish ew i was eating my morning avoccado! lol kudos to you man, if more people were like you there would be no climate issues

I hope y'all can prevent this pipeline

Did you shave up there?

Y E S

Is there someone back up in that tree then?

I tried to donate but I’m in the US. Am I missing something or will it not let me donate while outside of Canada?

Honest question: what's the alternative you propose to pipelines? I have invester a lot in solar personnally. I try to do my part... but while we are transitionning, we (as in the world) still need oil. Pipeline seems to be the best way to transport large amount of oil with the smallest carbon footprint. What am I missing?

@ScopeofScience

3 жыл бұрын

The alternative is investing in renewable energy, such as wind and solar. If we want to live, we have to stop extracting oil. Building this pipeline will increase how much oil we extract.

@fmaz1952

3 жыл бұрын

@@ScopeofScience I fully agree, but this is not a change that will occur in a day. Especially the move away from plastic based products. I'm asking what is the alternative to a pipeline WHILE we work on renewable.

Thought you were gonna be up there for way longer

@ScopeofScience

3 жыл бұрын

WE* are going to stay up there for at least another month, but just as Tim Takaro was up there before me, we'll continue taking shifts.

@ShadeTheBade

3 жыл бұрын

@@ScopeofScience That's good to hear. Hope we can end all oil pipelines from this

What a legend

"Poo bags" So that's how he did it.

Did anyone replace you up in the tree or is the rest of the protest completely grounded from now on?

It's been a week already?!

So someone else replaced you in the tree?

I thought you were staying till the 15th of September?

@ScopeofScience

3 жыл бұрын

*we* are staying until Sept 15th. I was the second person up there, and we'll continue taking shifts for as long as it takes.

@smaspa8627

3 жыл бұрын

Kurtis Baute hell yeah Kurt ✊

I donated $20

I have been waiting for hours to see your video. Can you continue daily videos about TMX and climate change?

I want to see what longterm tree dwelling does to man

I wonder what the workers who just follow orders think about this

What alternative energy source do you support on a worldwide scale? I am wondering because the creation of "clean energy" still requires lots of resources and energy that probably comes from fossil fuels... Please don't say wind turbines as they kill hundreds of thousands of birds a year. You should make a video discussing alternatives.

how the hell do you grow a beard in 7 days

Bru let them cut the trees down?

@ScopeofScience

3 жыл бұрын

Sorry, no.