Oil Wells That Ends Well? State of the States: April 23rd, 2020
Oil Wells That Ends Well? State of the States: April 23rd, 2020Oil Wells That Ends Well? State of the States: April 23rd, 2020
Although it seems as if US oil prices are back up again after the first negative prices in history, should we be relieved? US President Donald Trump is talking about it as if it is a technical and isolated blip. But economists say otherwise.
How can a price be negative? What is an "oil future"? How sustainable really is the oil industry, if it exists precariously from "bust to boom"? How integral is the continuous supply of oil to American society?
Rachel Simpson reports on the negative price of oil futures on this week's instalment of State of the States.
Should we all be heading to Cushing, Oklahoma with any container we can find to collect some oil and get paid for it? Unfortunately, that's not exactly how it works.
And daddy won't you take me back to Muhlenberg County
Down by the Green River where Paradise lay
Well, I'm sorry my son, but you're too late in asking
Mister Peabody's coal train has hauled it away
- John Prine (RIP)