Free Oil | Planet Finance (2/6)
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- เผยแพร่เมื่อ 4 ส.ค. 2023
- Planet Finance sets the world price for many commodities: for grain, for gold and also for oil. There is always demand for oil and the price is constantly changing. It is hard to imagine now, but at the beginning of the COVID pandemic, we could not get rid of oil. The world's oil supply was floating at sea. The tankers, and their crews, had no choice but to wait for a better price. And then came a day when a barrel of oil was free! How can a market be so derailed?
In this six-part documentary series, Marije Meerman takes you to Planet Finance. Who live and work there? What language do they speak? What is the use of this planet, and what makes this financial world so attractive to so many people?
Written & directed by Marije Meerman
Research: Marijntje Denters, Maarten Mosselman, Betsy van Drie, Piet Ruig
Cinematography: Pim Hawinkels, Joost van Herwijnen nsc, Maasja Ooms
Sound: sound Benny Jansen, Tim van Peppen, Rick Meier, Daan Arens, Sander den Broeder, Claas Meier
Editor: Sonja ten Boom nce
Field director: Japan Aya Asakura
Archival research: Barbara Kist, Paula Witkamp
Visual & data design: Femke Herregraven
Motion design: Mark Visser, Jeroen Schellekens
Music: BJ Nilsen
Sound design: Tim van Peppen
Voice-over: Alice O’Connell
Colourist: Rachel Stone
Finishing: Jan Jaap Kuiper
Datahandlng: Watse Eisma
Online editor colour grading: Yannick Elferink
Producer colour grading: Marja Paeper, Remco Smit
Interns: Athena Potamianos, Julia Baud, Margeaux Abeyta, Malou Sandig
Production assistant Pieter Wibaut
Line producer: Olivier Schuringa
Line producer: ZDF/ARTE Katharina Krohmann
Executive producer: Zoë de Wilde, Julia van Schieveen
Coach tot he director: Maaik Krijgsman
Commissioning editor: ZDF/ARTE Türkān Schirmer, Frederic Ulferts
Head editorial department: ZDF/ARTE Martin Pieper
Commissioning editor VPRO: Barbara Truyen
Thanks to Dennis Woodward, Herman Both, Meneer Shah, Lyle & Ed Testerman, Arthur RIchier, Kevin Perkin, Michel Marks, Martt sims, Keith Grissom, Katja Kleffmann, Alex Younevitch, Richard Matthews, Joost & Thijs Timmerman, Joachim Hessler, Hynek Appelt, Tom Runyan, Ayca Rodop, Scott Bauer, Martijn Smith, Fabio Kuhn, Dan Berkovitz, Ruben Heylen, Arjan Nugteren, David Kleijwegt, Daan Wierda, Mariska Schneider, Sharon Yosef, Vian Paashuis, Brigit
Archive: VPRO Tegenlicht, Oklahoma Historical Society, CNN
Witfilm - Na ons de zondvloed, NYPD, Screenocean, AP Archive
Presale: VRT
Planet Finance is produced by VPRO in co-production with ZDF and in collaboration with ARTE
This series was created with the support of NPO-fonds & CoBo
© VPRO & ZDF 2023
VPRO Documentary publishes a new subtitled documentary every two weeks, investigating current affairs, finance, sustainability, climate change or politics. Subscribe to our channel, and we will be delighted to share our adventures with you!
This Channel is part of VPRO broadcast. Make sure to visit our additional youtube channels:
VPRO Metropolis: / vprometropolis
VPRO World Stories: / vproworldstories (no longer active)
VPRO Extra: / @vproextra3443
VPRO VG (world music): / vrijegeluiden
VPRO 3voor12 (alternative music): / 3voor12
VPRO 3voor12 extra (music stories): / @3voor12extra7
More info at www.VPRObroadcast.com
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I just got to say, as an American, this is by and far the greatest and best series I have ever seen relating to finance. Thank you very much for making it public, I've learned more watching this single episode then I have in 30 years being a taxpayer
She's still a Limey Broad though.
This info is ancient. They have allegedly changed the gameplay with Quantum AI a decade’s worth
One of the best time of my career was when oil price went negative, I was buying oil stocks non stop for two days continuous for the clients. Now they are earning 20% dividend by doing nothing.
@dawoodwaris Would mind sharing a few oil stocks that did very well?
@@malcolmskinner3117 Occidental Petro, ExxonMobil, Shell, BP and ONGC.
STRAIGHT UP FIRE SERIES!! VPRO seriously does some of the best work around! Been a fan since "Quants of Wallstreet" over 10years ago!
I love this series! As a trader, this is amazing for me :)
As a novice forex trader from Africa, Kenya, Planet Finance is really moulding me to understand the risk am taking as a young investor.
Alaa karibu uku bro
W for being here to learn kaka.
Future and options market are double edged sword. Main argument for it is that it helps to reduce risk for a particular class of person. Truth is that the risk never disappears, instead, it gets transferred to another person who usually are speculators. That’s why futures and options cause so much turmoil and confusion around the price. Anyways, thank you for this neutral but insightful documentary.
@03:26 "Drugs! Plastics! I mean, think what your life would be like without Drugs! Or Plastics! Lightbulbs. Glass!" 😅
that part at the end where you said the $600 million dudes made money from a chat is hilarious. you made it seem like you can pump and dump oil 😂
Exactly, those guys profited from what happened that day (they may have 'helped' a little bit) , but at that point it was already a 'f***ed up' market.
Can you clarify what you mean mate
@@6misery he's talking about lads from Essex who made $600million from selling future contracts that took oil negative.
If you made half a million on the stock market, take $400k and put it in a high interest account and build again using $100k. If you think you can make money on the stock market again, this is the only sensible thing to do. Many cannot make this decision because they want to make much more, much faster
I have to agree that this is a well-done film documentary regarding finance.
Omg what an amazing production. Love this series❤❤❤❤❤❤❤❤
Thanks for making the series. It's truly fantastic!
Thank you for your endeavour to make this amazing documentary series 🎉🎉🎉
What's new & "amazing" about someone making a series designed to frighten drama queens? Ever heard the story of Chicken Little?
Best Series ever produced hands down...Great work VPRO. I really hope, there are awards given for this Genre
This is the best documentary I have watched since COVID. Great job! Never thought I would also get to hear a Christian prayer even allowed to be shown with so much cancellation of such stuff on Western media.
Dude it’s because they’re not forcing it upon their viewers, you nut headed zealots always have to point it out just like homosexuals stating their sexuality and making it their whole personality when nobody asked.
Having experienced being stuck on a ship at sea, it is truly imprisonment. While your family members die at home, and those you know leave you behind, you'll be stuck onboard. There is no medical, no HR, no breaks. Working 48 hours straight is common, 100 hour weeks are minimum working hours. extremely dangerous and very hard on your health. It is signing up to be locked away every time you sign onboard. Please remember the mariners who bring you everything from overseas. They are literately giving away part of their lives to bring you, your comforts. Most people don't even know about this line of work. Remember the mariners. 142.
Very well done! A must watch.
Great Series. Fantastic content and insights into that world from concept and perspective that is very engaging and educational.
This is fabulous. Much enjoyed. Thank you.
The best video about the Crude oil market that i saw in YT. Congrats.
Awesome documentary. Highly eye opening
OIl is gonna be with us for at least the next 100 years, contrary to what the green people are telling you.
So says you. How? It's not the "green people" who determine how much oil there is.
@@adida.sativa-dv2elReally? Are you being serious? The planet has an infinite supply of oil? When did that happen? What qualifications do you have to say that? Or is just your (worthless) opinion?
@@TheNemocharlie ask the green people
dude's been speaking to aliens
Yeah well, all the grey alien abduction loonies say the flying saucers emit a sulphurous smell & make some noise. I guess they run on some kind of distillate.
So basically trading is all about creating middlemen without the need for middlemen. Me dad always said cut out the middleman.
As a member of the Planet Finance, i would say by far the most tangible series i have ever observed. Very realistic, thanks
Ur not a member. I'm a member.
Glass is a silicon based product, not synthetic derivative of oil. Oil is a carbon chained molecules.
12:50 images as data 15:30 EIA 16:06 La clave 17:17 Oil free 2020 20:15 985 tankers waiting at sea during Covid 48:40 Carbon tax
Value investing is still the safest way to go, minimal risk.
best work
Imagine the amount of money made by those who planned the C0vid "epidemic" ... not only trough oil business but through the pharmaceutical industry as well, and etc. etc.
47:45 - there you go..
Insightful
That ending hits hard, harrowing yet perfectly executed
This is nuts! Great work.
Very interesting, I learned a lot of things.
Why the 4 videos hidden!!!! How can I see those? Eagerly waiting..
Excellent 👍 program hat off .u are the simple people but not lesser than Angel from heaven..
so good
Crazy story! Very interesting
We don't need a carbon tax, what we need is a trading tax.
That’s called capital gains tax. But money is boundless, it grows exponentially. So a fraction of infinity is not a useful regulatory limit. We need zero carbon extraction and combustion, so a carbon tax is inapposite. What we need is a low energy economy, or a lot less people.
No more oil
Yeah, but some smartass Harvard boy will probably call it antisemitic or such.
We already do. They call themselves "Amish".
you are just and envy people
Fliexible lids, moving up and down based on the oil level inside and the amount calculation based on their shadow...remarkable stuff.
Hold my beer.........
Absolutely top shelf material. Carbon tax futures market. Interesting stuff!
I think brokerages knew about oil going negative before hand, so that they could hedge risk appropriately.
18.11 most oilfields are NOT naturally pressurised and pumping (adding pressure) can be regulated. I don't think this @Wet Oil# trader is being honest with VPRO
He's a trader, not an engineer, he was simply speaking from what (little) he knew.
Guy doesn't want to complain about the market that made him extremely wealthy... proceeds to complain about the market that made him extremely wealthy.
Oh man that guy is so lucky their broker accepted they were not providing a good data and compensated him.
Who’s on the other side of that trade? Those are the smart guys
If making money is what determines who is deemed a "smart" guy, then everyone trading a particular market will be the dumb guy at least once every so often.
One of the best time of my career was when oil price went negative, I was buying oil stocks non stop for two days continuous for the clients. Now they are earning 20% dividend by doing nothing.
@@dawoodwarisyou would have lost if you bought it in that time
It took me a year to recover from that day oil went to 0 but the brokers didn't make it easy. Getting locked out like that was the 1st I ever wanted to sue anyone. But iv went from 60 to over 300 in minutes as a premium seller I'm not sure how I didn't have stroke.
ACW sent me 🤣🔥
Don't need a Bull chasing me around LOL
Synthetic oil can be bought at any garage. It works well
interesting
CORRECTION: Oil has gone negative before. Also, the CME made the announcement weeks in advance of the possibility for it to go negative including changing the way its priced from the ‘76 Black Model to the Bachelier Model. Also, every brokers warns its customers of holding the front month on the last day of expiration.
The shadow calculation is legit.
Down in Essex in London a small group of traders by the name of vega capital on the day oil went -40 made 600 million British pounds in a single day
25:09 Like this Day Trader (Syed Shah)
Why a Day Trader kept position open for more than a day?
“I scraped together 20k from my father in the 60s-70s” loool bro started on 3rd base.
lol, I remeber when the VIX future contracts expired on me
Lmaoo why even trade the vix.
cause it had more leverage than regualar stocks :p @@rawcircoking
Can someone explain how did Syed lost $13 million when he bought the contract at the very bottom price? 212 contracts at $1 cent still gives loss of approx $1.5 million at the bottom price.
Futures are different than your regular stocks or stock options. WTI or /CL Crude oil, each contract represents 1000 barrels. Tick size is 1 cent, so multiply 1000 barrels by 1 cent, each one penny movement up or down gives you (+/-) $10. So if you are buying long (Calls), and the oil is at $50 a barrel, and it goes down to $45 a barrel, that is a $5 move which is equal to 500 ticks. Since each tick is worth $10 that is a $5K loss on one contract on a $5 move. I hope this answers your question. I am not a pro, nor do I trade futures. Just sharing what I know.
The trading software does not account for the negative numbers. The minimum price he saw was 1 cent. So, he bought 13000 contracts he said but the actual price at that time was(negative) - $10 or even lower. At expiration, when he contract was settled, since the price was in the negative, he had to pay to sell (settle) his contract. When the price is in the positive, you get money for selling anything. Since, the price was in the negative, he had to pay to get rid of his contract. Interactive Broker assumed the cost of anything below $0, btw. They understood that their software messed up.
Your missing an important part of what future contracts are supposed to be used for. Price discovery for producers, farmers or oil companies need to know whats been purchased in 3 months from the purchase price.
the priest of money😂😂
16:13 wow
Stock market is the insurance cover for the economy.
If we lose all money, we still have the ones we have put in the stock.
Thats the future market.
How do you invest in carbon tax?
What happens when someone Fails to Deliver...???
Bill then hides behind his long suffering wife (Hillary)?
OIL IS KING!
❤
Dont you love it when you're doing an interview and someone just decides to waltz in on it...🙄😒
Hi brother
The 2008 sub-prime mortgage trading was exactly the same, only a small number of astute traders cashed in on the 'shorts' gamble. The banking giants gained 80 billion from our taxes, the major oil companies don't lose either.
Cest la vie and buyer beware.....convid was a serendipitous occurrence that only astute traders saw coming, much like the sub-prime jamboree.
Isn't life wonderful?
For every drop or rise in trade digits humans lose.
Futures market!!! Now the big dogs know what to devalue for eye poking prices to sell months later at 300 percent price increase. It's a poker game. And the dealers as well as the house will always make money. And the gamblers will loose all the time.
Pre history all oil was in ground
What if I just dont deliver ? What then?
Are birds tickled by feathers? Should ballerinas wear stillettos?
Oil is almost everything and Oil is becoming harder to find and mine! Inflation will continue to increase along with gas!
Inflation is just devaluation of the currency. Currency is inherently fiat or made up. Oil is finite and non renewable, so we need to be careful how we use it. We will never “run out of oil”, that is a fallacy. It will just get priced out relative to other energy sources.
If you want to protect yourself from oil prices then the logical thing to do is have alternatives such as solar, wind hydro and nuclear. Its just basic market forces.
@@lpdirv Correct! Hence the EV and renewable push world wide!!!
Inflation is also the rapport between goods for sale and money in circulation
Do NOT trade something that you don't understand, and your blood pressure is gonna be fine 😂 It's that simple. ( that's why I stay out of shitcoin, commodities and currencies)
If you invest small money on Pepe now you will be financially free by 2030. Buy now and thank me later.
That guy with the 13M liability gets no sympathy from me. He's just greedy and dumb, glad someone ate his lunch.
True ! Overconfidence and revenge trading
I just think he was paying school fees to those who know the ropes. He fell in to the big boys strap, damn.
If He doesn’t pay up then broker , exchange and final customer doesn’t get paid. So in all everyone loses. This shows there was no risk mitigation mechanism in the first place.
One of the best time of my career was when oil price went negative, I was buying oil stocks non stop for two days continuous for the clients. Now they are earning 20% dividend by doing nothing.
alright wagie, but the crooks (big oil) who manipulate the price into negative are not greedy.
how did Syed's story end ? he doesn't look homeless to me
45:45 His broker’s trading platform couldn’t show negatives so it seems they put the blame on the broker and ended up with 100k euro bill
8:50
Insider trading
Thank you expose this very happy explains what here.calgary alberta was middle on this weir strom.i saw my own eyes margin call other jump in head first yup.irving oil just finish major repair oil refinery st-john,nb when people dump oil all tank was empty just couple days harbour was full oiltanker ship.they rumour was they made hell money,include here some rent oilcar cn and cp load up.pipeline like trans canada where load and stop pumping yes was true.i hear story in downtown calgary insane amount money made or lost.thank help.people understand systems work.😊
So Syed didn't actually lose. He's still driving a benz with a big house to live in. That is truly not fair. If you take a huge risk, you cant expect to win big but cry for a bailout when you lose big. You knew futures are volatile financial instruments with equal risk of heavy losses compared to rewards. You could be out there working your ass off on the oil rigs but you chose to make money from a product that requires hard physical labor in crazy environmental conditions to produce. Most young adults like Syed dont want to do anything that involves manual labor. They all wanna be "traders, entertainers, content creators", etc. Who tf did you pay for this promo? I got zero sympathy for this guy. Viewers, the moral of this story is that none of the people typing on keyboards, watching computer screens actually lose.
selling hair oil futures
Futures for Carbon Tax...God help us.
Hot potato 15:16
It is called gambling,
How can you not mention the well documented winners which was a small group of traders from the UK who set up this crash? please fact check me, I watched the doc on that also on TH-cam
nevermind ita at 40:24
Just a big casino manipulated by a handful of robber barrons.
gimme a 7 on black!
Should have stuck to crypto lol 😂
Crypto bro gets liquidated on negative oil futures. Hahaha glorious. Dont play the game if you dont know the rules.
Has your day trader considered that his high blood pressure may have been caused by the vakseen
Carbon tax is corrupt and won't affect players manipulating the market. Trading carbon tax is the answer - what a lie.
I disagree. Everything is synthesized from the sun. Also that trading floor with all those men seem a bit odd. It's like a pseudoscience centre for cult members believing that all those strange hand gestures have any meaningful effect statistically on the outcome of their investments that can be quantified and measured with results that can be replicated scientifically over time. Maybe bob your head to the right and pray in the direction of the Andromeda galaxy for additional effectiveness.
what's your bet on the future of the sun?
Anton Chigurh I have a $50k contract for the carbon tax pig.
Beta , Aur suno Karachi Saale mama ki baat.
The blonde is a gottie
It's critically important that people use accurate language when discussing the actual cause of event consequences of SARS-CoV 2. A particularly egregious and pernicious example-with repeated examples of use in this piece-is 'BECAUSE OF the pandemic/covid, x, y, z.' This is obviously inaccurate, a mistake of basic, foundational logic. The ACTUAL factual causal reality is this: because of the actions taken by tiny silver of people (our 'leaders') who, under the auspices of 'saving us via mitigating viral spread of a universally deadly untreatable novel virus which is transmitted largely via aerosolized airborne droplets via 'lockdowns', paper masks, plexiglass panels, 'six feet' etc.' assumed unprecedented virtual total power/control over almost every coordinated collective human activity. Dictates which, as it happens, are now almost universally understood to have been virtually 100%, incomprehensibly, almost impossibly wrong (and which were recognized as such at the time by anyone with the critical thinking faculties of a 12-year-old of average intelligence.) THAT is what caused-is the BECAUSE-of whatever 'x, y, z during covid' topic is at hand in a given conversation. The conflating of the two-the virus, and the governmental response to it-is a massive lapse in logic, understanding, and a highly inaccurate depiction of reality. Causation clarity with language is VERY important.
Looks like we found ourselves a Brit?
it peeves me too mate.
The Drone guy violated KYC rules and should be shutdown. You can't not know who you're doing business with.
Very lame documantarian, slow, pretentious, very try hard, betwixxed stupid amounts of B-roll, the crux could been told in less than quarter the time.
"Whatever loans you give, ˹only˺ seeking interest at the expense of people’s wealth will not increase with Allah. But whatever charity you give, ˹only˺ seeking the pleasure of Allah-it is they whose reward will be multiplied." "Qur'an - Surah Ar-Rum 39.-th ayah"
Yeah, yeah. Just start treating women as equals & we'll take you terrorists seriously.