March 14, 2020 (Saturday)
I found an old newspaper article about oil prices in March, 2011–nine years ago. Oil was more than $103 per barrel and gasoline was around $3.25 per gallon. The current situation puts oil somewhere in the range of $35 and gasoline is less than $2 per gallon, expected to fall in price.
The good news for drivers is that gasoline prices may drop, but that news is overshadowed by the fact that the oil operators will find it difficult to continue drilling while losing money. The event that underlies the oil price troubles is a price war involving Saudi Arabia, which intends to flood the market and lower the value of oil stocks.
In the meantime the corona virus pandemic caused the USA to declare a state of emergency yesterday amid hopes that the virus can be contained and that the stock market will continue to undo its huge losses of late, said to be the result of many uncertainties for people in this country and others, because of the spread of a new virus.
OK, so let’s listen to Jesus: “Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. But seek first the kingdom of God and His righteousness, and all these things shall be added to you. Therefore do not worry about tomorrow, for tomorrow will worry about its own things. Sufficient for the day is its own trouble.'” (Matthew 6:31-34 NKJV).
President Donald Trump announced Friday that he is declaring the corona virus pandemic a national emergency, as Washington struggles with providing Americans with relief and officials race to slow the spread of the outbreak.
Gov. Greg Abbott on Friday declared coronavirus, also known as COVID-19, a statewide public health disaster as the virus continues to spread. As of Friday Texas had 39 confirmed cases of COVID-19.