From Popular Science, April 29, 2020
The environment won’t be helped by oil producers declaring bankruptcy
In the past couple weeks, we’ve seen oil prices—already on the decline—plummet to historic lows. On April 20, the benchmark price for U.S. oil dipped to negative $40 a barrel. At the time of writing, the price per barrel for West Texas Intermediate crude, an industry benchmark, was just below $13, still well under the $50 or so needed to make a profit.
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