Oil Hits Insanely Low Price As Barrel Filled With Filtered Ground Water Costs More

When a gas station in Michigan starts selling gas at $0.47 per gallon, regardless of the situation something very unusual is occurring. While this turned out to be a case of cut throat street corner free market competition, an Independent article points out that a barrel of oil is now absurdly cheap, in fact costing less than the steel barrel in which it is stored. And it’s not just the UK newspaper that is noticing the oddity, pointing to very human decisions in a free market.

Andy Hall is likely not happy.

As the editor of this article joked recently (with a reference to Weimar hyperinflation, where people would...