Today was a brutal day for the oil market. It collapsed. Its price dropping below zero for the first time ever. In all, the price of oil dipped by over 300 percent. At one time, a pack of Wrigley’s Juicy Fruit gum was more expensive than a barrel of oil. This drop also accompanied a rather bad day on Wall Street as well (via The Street):
🚨🚨🚨BREAKING🚨🚨🚨
WTI OIL FUTURES TRADE AT NEGATIVE PRICE FOR FIRST TIME EVER | #OOTT
— Javier Blas (@JavierBlas) April 20, 2020
The Dow Jones Industrial Average finished down 592 points, or 2.44%, to 23,650, the S&P 500 declined 1.79% and the Nasdaq slipped 1.03%.
[…]
U.S. crude futures for May delivery, the near-term contract, sank to their lowest level on record Monday, falling to negative $52.24 a barrel as traders fretted over the capacity of storage facilities both in the U.S. and abroad. Contracts for June delivery ended down 18.3%, at $20.03 a barrel.
“In my view, the plunge in oil prices speaks to the decline of global growth as demand dries up,” said Dan Russo, chief market strategist at Chaikin Analytics, a quantitative investment research firm based in Philadelphia.
This is more bad news for the energy industry, who were bracing for tens of thousands of jobs to be wiped out due to the slowing economy. Some estimates have 50-75,000 jobs lost, while others are as high as 200,000. Like other sectors of the economy, this could get brutal and that means more pain for scores of American families. So, how did Democrats treat this news? Well, for some, like Rep. Alexandria Ocasio-Cortez (D-NY) the thought of joblessness for legions of Americans due to oil being torpedoed was one of joy.
Progressives are for the working class*!
*Terms and conditions apply pic.twitter.com/ellbIbT6V5
— Julio Rosas (@Julio_Rosas11) April 20, 2020
AOC is gonna blame us on the right for supposedly twisting her now-deleted tweet, isn't she? pic.twitter.com/APqk1g4t0F
— Curtis Houck (@CurtisHouck) April 20, 2020
Imagine a Republican tweeting "You absolutely love to see it" about millions of people's lives being ruined like @AOC just did.
— RBe (@RBPundit) April 20, 2020
Seems Nancy Pelosi rang up @AOC and had her delete the tweet where she says she "absolutely loves to see" millions of people's livelihoods getting wiped out.
LUCKILY, @JesseKellyDC screencapped it: pic.twitter.com/vVrFmMZQg7
— RBe (@RBPundit) April 20, 2020
As long as she still has a job (along with her friends in the far-left media), it's still all fun and games. https://t.co/xqASQE0tKK
— Curtis Houck (@CurtisHouck) April 20, 2020
“You absolutely love to see it,” she said in a now-deleted tweet because it provided a path to get some vestige of the Green New Deal started.
Yeah, those Democrats are the real party of the working man, right? Is that why Nancy Pelosi is gumming up the works on small business loans as she remains hunkered down, well-fed by her two massive refrigerators that cost $24,000 each?
Let them eat cake is the new motto for the limousine liberal, and I guess cracking eggs to make an omelet is the new far-left mindset. Oh wait—these attitudes were always a cornerstone of this despicable bunch.
Further proof that there is no such thing as a good Communist.
WTF does AOC care? She still has a job. A job she doesn’t even have to go to, at least until May 4th. And her rent is being paid from the salary she is still drawing. So her whole attitude is F those oil workers who provide the means for her to take what ever form of transportation she takes to her (non-attending) job.
Obviously, AOC and Pelosi (along with Chuck, the Schmuck, Schumer) is the best the Dems have to offer.
@retire05: She and most other liberals are simply too stupid to know they BETTER care. NOTHING they use in their lives can be possible without oil; no phones, no transportation, no communication, no nitrile gloves, no masks, no ventilators, no expensive freezers full of over-priced ice cream… because you can’t get that, either. Also, no wind generators and no solar panels. If the very materials these things are made of don’t come directly from fossil fuels, then the energy to make them does.
But, leave it to a “compassionate” liberal to cheer people losing good-paying jobs.