Ocasio Cortez Oil
- Stuart Varney: Oil crash threatens US position as global energy leader. Fox Business host Stuart Varney reacts to the crash in oil prices amid COVID-19 and Rep. Alexandria Ocasio-Cortez's deleted.
- Alexandria Ocasio-Cortez, D-N.Y., tweeted – then quickly deleted – a celebration of the news that U.S. Equity markets crashed on Monday, with oil prices turning negative for the first time in.
Source: AP Photo/J. Scott Applewhite
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
Nov 03, 2020 Rep. Alexandria Ocasio-Cortez on Monday denounced the “audacity” of oil giant Shell after it waded into the global discussion about the climate crisis by asking members of the public what they would do to reduce carbon emissions.
— Javier Blas (@JavierBlas) April 20, 2020The 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
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, 2020Imagine 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
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?
WSJ Columnist to Sinema and Manchin: There's One More Thing You Have to Do to Save the FilibusterLet 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.
On April 16, Weatherford International, which is based in Houston, Texas, announced they were cutting 6,000 jobs in a single day,
“You absolutely love to see it,” says the far-left. Absolutely disgusting.
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Telling their story before a Congressional committee for the first time, two former ExxonMobil scientists on Wednesday detailed how the oil giant turned its back on the research they did for the company 40 years ago on the looming threat of climate change.
They gave their testimony in Washington, D.C., just as Exxon went on trial in New York on allegations that it misled investors about climate change risks, underscoring how political and legal risks have dovetailed for a corporate giant that for years tried to sow doubt about the risks of carbon emissions.
Geochemist Ed Garvey described how Exxon shut down the carbon dioxide research program he worked on for the company from 1978 to 1983.
After the collapse of world oil prices in 1982, Garvey said, “they began to sell off things like lithium battery research and other divisions of Exxon research as they retrenched and focused solely on oil.” One of the programs that was jettisoned was his project to monitor carbon dioxide concentrations in the air and ocean surface from a dedicated station aboard one of the company’s supertankers.
“There was really a sea change … where they had gone from this very broad-based, very future-looking energy company to becoming an oil company,” Garvey told the hearing, held by the Civil Rights and Civil Liberties Subcommittee of the House Committee on Oversight and Reform.
After deepening the company’s understanding of an environmental problem it suspected could harm its business, Exxon put its muscle behind efforts to manufacture doubt about the reality of global warming.
“I cannot see into Exxon management’s heart,” said physicist Martin Hoffert, describing his distress at the company’s newspaper ads in the 1990s contradicting the science on fossil fuel emissions’ link to global warming. That work was his focus when he was a consultant to the company from 1981 to 1987.
“Whatever its intent—willful ignorance, stymying an effective response to preserve quarterly profits, or simply an incomprehensible refusal to incorporate their own world-class research and results into their business plans,” Hoffert said, “what they did was wrong. They deliberately created doubt when their internal research confirmed how serious a threat it was.”
The scientists’ work for Exxon was featured in an award-winning 2015 investigation by InsideClimate News that explored the company’s shift from climate research to climate denial and was mentioned in a video played as the hearing opened.
“In order to understand and confront the crisis we are facing, we must recognize the disastrous deception that brought us to the brink,” committee chairman Rep. Jamie Raskin (D-Md.) said.
Rep. Alexandria Ocasio-Cortez (D-N.Y.), who has made climate change one of her signature issues as co-sponsor of Green New Deal legislation, showed a slide of a scientific chart produced by Exxon scientists.
“In 1982—seven years before I was even born—Exxon accurately predicted that by this year, 2019, the Earth would hit a carbon dioxide concentration of 415 parts per million and a temperature increase of 1 degree Celsius,” said Ocasio-Cortez. “Dr. Hoffert, is that correct?”
“We were excellent scientists,” Hoffert responded.
Climate Policies Gain Traction on Capitol Hill
What Exxon knew, and when the company knew it, will be crucial in the New York trial, where the state attorney general is arguing that the oil company defrauded investors by misleading them about the risks it faces from future climate regulations.
It also may prove to be important in shaping policy in Washington. Although the hearing did not focus on any legislative proposals to address climate change, the fact that they are being discussed on Capitol Hill was made clear by Republicans on the committee, who used their turns to bash proposals for a Green New Deal and carbon taxes.
On the other side of Capitol Hill, Sen. Chris Coons (D-Del.) and Sen. Mike Braun (R-Ind.) announced that they were launching a Senate Climate Solutions Caucus committed to building bipartisan support for climate solutions. There has been a similar effort for several years in the House, although only a few of the Republican members have signed on to any climate legislation. One of those, Rep. Francis Rooney (R-Fla.), just announced his retirement.
Alexandria Ocasio Cortez Net Worth
Coons is co-sponsoring a bill that would tax carbon emissions and rebate 70 percent of the revenue to households and devote the rest to energy infrastructure, job retraining for fossil fuel workers, and research and development. Braun has co-sponsored bills to boost nuclear energy and reduce greenhouse gas emissions from manufacturing.
Fossil Fuel Funding for Climate Opposition
The GOP invited as its witness to the hearing Mandy Gunasekera, a former Trump administration Environmental Protection Agency official who now runs a nonprofit advocacy group, Energy 45 Fund, which aims to tout Trump’s environmental record. She is also an adviser to the CO2 coalition, a group fighting against action on climate change. “Our energy industry and the men and women in it are to be celebrated,” Gunasekera said. “They’ve changed millions of lives for the better. Our successful energy industry is why we lead the world in environmental progress.”
Ocasio-Cortez asked Gunasekera if she knew the CO2 Coalition was funded by fossil fuel interests like Koch Industries and the billionaire hedge fund manager Robert Mercer.
“I don’t know the financing behind the CO2 coalition, but I’ll say my engagement with them is not unwitting,” Gunasekera said. “It is active and inspired and educated, because a lot of these folks are scientists who have long been diminished and ignored.”
“Thank you for testimony that you are not unwittingly working for the Koch brothers,” Ocasio-Cortez said, provoking laughter in the hearing room.
The exchange was especially relevant since one of the key charges leveled at Exxon during the hearing was that it funded some 40 think tanks and advocacy groups that worked for years to block meaningful U.S. action on climate change.
Ocasio Cortez In Bathing Suit
“They didn’t just pollute the air,” said Naomi Oreskes, a Harvard University science historian. “They also polluted the information landscape.”
Ocasio-cortez Net Worth
Read ICN’s Pulitzer Prize-finalist series Exxon: The Road Not Taken