The US oil industry's version of Armageddon was on full display when the price for West Texas Intermediate (WTI), the US benchmark for oil, collapsed and turned negative on April 20. With no demand for oil due to Covid-19 stay-at-home orders and few places left to store it, producers holding contracts to deliver oil in May were forced to pay buyers roughly $40 a barrel just to take it off their hands. President Trump indicated that some sort of financial bailout for the US oil industry -- and the millions of jobs it supports -- could be in the works. The administration has allowed companies to store surplus oil in ... (full story)