On Monday, Representative Alexandria Ocasio-Cortez took to Twitter to express her views on the plummeting oil prices. She tweeted: “You absolutely love to see it. This along with record low interest rates means it’s the right time for a worker-led, mass investment in green infrastructure to save our planet. *cough*”
She has since deleted the post.
AOC was referring to oil prices plummeting more than $10 per barrel into the negatives. This is the first time in history that oil prices have gone this low.
This in turn caused the Dow Jones industrial average to drop by as much as 507.44 points, or about 2.1 percent, for two consecutive weeks.
AOC was slammed for her tweet, and later chose to delete it. She then posted another tweet: “This snapshot is being acknowledged as a turning point in the climate movement. Fossil fuels are in long-term structural decline. This along w/ low interest rates means it‘s the right time to create millions of jobs transitioning to renewable and clean energy. A key opportunity.”
The new tweet was in response to @muckrakery’s tweet: “Oil prices now at ‘negative values,’ meaning oil producers have to pay people to take it off their hands and store it because when demand plunges (like now), that is less expensive for them than building more storage and/or shutting wells down.”
On Tuesday, President Trump proposed that a relief fund for the oil and gas industry be set up in response to the economic challenges.
He tweeted: “We will never let the great U.S. Oil & Gas Industry down. I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”