Oil prices endured a once-in-a-lifetime event on Monday as prices cratered 300 percent to negative territory.
May’s contract for West Texas Intermediate (WTI) crude crashed to as low as -$36, which is the first time in history the price of oil traded in subzero.
At the time of this writing, the expiring contract has rebounded, and the June contract is edging higher. But it still points to one important thing: The energy industry is being devastated by collapsing demand and a global supply glut.
While this will inevitably lead to monumental job losses and billions in losses, one person seems to be happy about it: Rep. Alexandria Ocasio-Cortez.
AOC wrote in a now-deleted tweet:
“You absolutely love to see it.
This along with record low interest rates means it’s the right time for a worker-led, mass investment in green infrastructure to save our planet. *cough*”
Someone took a screen shot of the tweet before it was deleted.
Yikes.
These Keynesians are terrible people.
Perhaps it was Milton Keynes who advised her on this tweet. Who knows?
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