10 million newly unemployed Americans and the President is working hard to raise, yes I said raise, the price of gas for every American.— Joe Lockhart (@joelockhart) April 2, 2020
Some of those unemployed Americans (hello, Midland!) are oil field workers laid off because the price of oil is so low the wells can't stay open.
And the ripple effects of that are massive, even if they don't show up on the DJIA or are masked by massive unemployment numbers.
When you can't afford gas because you don't have a paycheck and besides there's nowhere to go but the grocery store, what's the value of low gas prices at the pump? Especially when it rocks the grass roots of the economy in states from Louisiana to Wyoming? (Colorado is very dependent on oil and gas exploration. Shutting down wells means shutting down even more of CO's economy than exists in Denver.)
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