Boomtown Host Christian Wallace On a New Reckoning for Texas Oil
Quarantined at home in San Marcos, Texas Monthly staff writer Christian Wallace has spent the bulk of his week working the phones, talking to energy experts and oil executives for next week’s special edition of Boomtown, what began as a ten-part Texas Monthly podcast series documenting record-breaking oil production in the Permian Basin. But while Boomtown was largely focused on an oil boom that stood to reshape the world’s climate, economy, and geopolitics, suddenly the crossroads of overproduction, geopolitical instability, and the COVID-19 pandemic have signaled what might be the beginning of a game-changing, potentially historic oil bust. For a few hours on Monday, prices for May delivery of a barrel of West Texas Intermediate crude oil went negative, to a record-setting $-38. To sell…View Original Post
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Source: Texas Monthly