On March 11, 2020, the World Health Organization declares the novel coronavirus a pandemic. In the days and weeks that follow, Governors in most states give “shelter in place” or “stay at home” orders for everyone except essential workers. Schools close and children finish the school year by distance learning. Over 30 million Americans file for unemployment as businesses, hotels, stores, and restaurants close. People working from home no longer commute or travel for business. The world is producing more oil than it is using. Due to the complexity of oil pricing and oil trading, in April, the price of a barrel of oil reaches -$37.63. Some oil sellers must pay oil buyers to take their fuel. Off the coast of Long Beach, California, dozens of full oil tankers remain at anchor in the harbor waiting for refineries to accept their shipments. (nytimes.com, dailybreeze.com)
