Demand For Oil Has Plummeted, But Industry Keeps Building New Infrastructure Anyway

Instead of retreating, the American oil and gas sector has plowed ahead at full speed during one of the worst pandemics in a century, even as demand for its product tanked because of the COVID-19 economic downturn. The industry’s efforts continued in no small part because federal and state regulators deemed fossil fuel work “essential” during the pandemic. Oil and gas companies are constructing pipelines and wells amid the pandemic, risking workers’ lives and depleting personal protective gear. On Monday, oil prices plunged below $0 as the world ran out of places to store what’s already been pumped. 

By Alexander C. Kaufman and Chris D’Angelo. Huffpost. April 20, 2020.

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