The first White House coronavirus policy response aimed specifically at the reeling U.S. oil sector may not be a sure thing to occur as President Trump envisions.
What's happening: Late Friday afternoon Trump said the U.S. would purchase enough crude oil to fill the Strategic Petroleum Reserve "right up to the top," which would ultimately be a $2.6 billion purchase if oil remained at Friday's prices.
There was a lot of confusion Sunday night about whether Joe Biden made a big change in his energy platform during his debate with Bernie Sanders. He didn't.
What happened: At one point during his exchange on climate policy with Bernie Sanders, Biden said "no new fracking." That raised antennae about whether he was going beyond his existing vow to end new oil-and-gas permitting on federal lands and waters.
Time is what keeps everything from happening at once, someone wisely said.
Yes, but: In once-in-a-lifetime moments when everything does seem to be happening at once, like what’s unfolding with the cascading coronavirus crisis, time is a ruthless prioritizer. Acting on the decades-long problem of climate change falls to the bottom.
Saudi Aramco plans to cut 2020 spending by billions of dollars below last year's levels as the spread of the novel coronavirus craters global oil consumption and pushes down prices.
Why it matters: Aramco is the world's largest oil-producing company. Sunday's announcement underscores how COVID-19 and the oil market's upheaval is affecting the energy landscape.
/2020/03/13/1584132821069.gif?w=3840)
