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Oil went negative. What does that mean, and why did it happen? The economy during COVID-19

Oil went negative. What does that mean, and why did it happen? The economy during COVID-19

This week, some oil prices fell below $0 -- it's the latest in a series of incredible ripple effects caused by the COVID-19 pandemic. But it turns out, there's a bit more to this story. Dr. Scott Jackson is a Visiting Professor at Villanova in the Chemical and Biological Engineering Department, he teaches a course in petroleum engineering, and he joins KYW In Depth to break down all the reasons why oil went negative, discuss where he thinks the price of gas is going to go, and answer what happens if you just turn off the oil pumps. See omnystudio.com/policies/listener for privacy information.

The Week in Philly from KYW Newsradio

April 21, 202023m 30s

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Show Notes

This week, some oil prices fell below $0 -- it's the latest in a series of incredible ripple effects caused by the COVID-19 pandemic. But it turns out, there's a bit more to this story. Dr. Scott Jackson is a Visiting Professor at Villanova in the Chemical and Biological Engineering Department, he teaches a course in petroleum engineering, and he joins KYW In Depth to break down all the reasons why oil went negative, discuss where he thinks the price of gas is going to go, and answer what happens if you just turn off the oil pumps. See omnystudio.com/policies/listener for privacy information.

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