Why it matters: Ominous forecasts about the impact of climate change serve as the backdrop for the world — led by U.S. lawmakers and companies — to debate big action on the problem, which could upend energy systems and our way of life.
US President Donald Trump speaks during the daily briefing on the novel coronavirus, COVID-19, at the White House on April 4. Photo: JIM WATSON / Getty Images
President Trump inched closer to supporting tariffs on oil imports on Saturday as one way to help the industry in historic turmoil over rock-bottom prices.
Why it matters: More than 70 oil companies could go bankrupt in the coming months, consultancy Rystad Energy said Friday, if U.S. oil prices are around $30 a barrel — which is above where they’ve been lately.
OPEC. Photo: NurPhoto / Getty Images
A pivotal Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia, the leading players in the OPEC+ group.
Why it matters: Travel and economic freezes from COVID-19 are causing an unprecedented drop in oil demand that has caused prices to crater.