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Opinion
Ryan Sitton

The U.S. Must Protect Free Markets in the Oil Price War

Texas is poised to benefit from stabilizing global supply, but it needs the federal government to make a deal.

Opportunity.

Opportunity.

Photographer: Callaghan O'Hare/Bloomberg

Uncertain times are upon us. Our jobs and way of life are being affected by the coronavirus pandemic and by the measures being taken to halt its spread. While these measures are necessary, they are also suppressing demand for goods and services, crippling key parts of our economy. Many families will soon feel a great deal of economic pain, if they aren’t already. 

One silver lining is that gasoline prices have plummeted to near-record lows. Low gas prices are usually great for jobs and the economy, but they carry dangers under the current circumstances. It feels great to fill up for less and less each day, but the companies that produce our energy cannot sustain these prices.