Will Crashing Oil Prices End Our Energy Independence? - Steve Forbes
Steve Forbes on what triggered the devastating plunge in U.S. oil prices, the urgent steps needed to avoid industry bankruptcy, and whether this freefall could end our energy independence.
What's Ahead featuring Steve Forbes provides his insights and perspective, to stay on top of what's happening in this ever-turbulent world with glimpses into the future.
Energy Secretary Dan Brouillette provides on the OPEC deal and the U.S.'s energy independence amid the coronavirus. Oil prices are continuing a downward plunge as more drivers stay off the roads during the coronavirus pandemic. Crude oil prices hit a record low in the U.S. Monday, dipping below negative for the first time. Washington Post energy reporter Will Englund joined CBSN to discuss. Oil prices have risen as global demand slowly grows and leading energy producers cut production.
Prices for oil reached just above $30 per barrel, a little more than half their level at the beginning of 2020
But the fallout of COVID-19 and continuing oil glut mean prices will not entirely recover for some time.
Al Jazeera's John Hendren reports from Chicago, US. The Dow Jones ended Monday with a loss of around 300 points as the coronavirus crisis continues. NBC News' David Gura reports on the effect oil prices are having on Wall Street.