- Rep. Alexandria Ocasio-Cortez deleted a tweet in which she celebrated the collapse of oil prices on Monday.
- "You absolutely love to see it," the progressive Democrat tweeted. "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."
- Ocasio-Cortez is one of the most outspoken advocates of the Green New Deal, which aims to tackle greenhouse-gas emissions.
- The coronavirus pandemic has frozen the travel and manufacturing industries, meaning there is a surplus of oil which producers can't get rid of.
- West Texas Intermediate crude oil futures plunged 321% to -$40.32 a barrel on Monday. Brent crude dropped 9.5% to $25.41.
- Visit Business Insider's homepage for more stories.
Rep. Alexandria Ocasio-Cortez has deleted a tweet about the collapse of the oil market on Monday which said: "You absolutely love to see it."
Travel and manufacturing freezes caused by the coronavirus pandemic has led to a surplus of oil, causing prices to plummet — in some cases into negative territory.
Monday saw West Texas Intermediate crude oil futures plunge 321% to -$40.32 a barrel. Another major index, Brent crude, dropped 9.5%, to $25.41.
"You absolutely love to see it," Ocasio-Cortez tweeted Monday. "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*"
The tweet was deleted shortly after.
The progressive Democrat later posted a similar, more tempered response, which said the moment marked "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," Ocasio-Cortez wrote.
Since entering politics Ocasio-Cortez has championed a Green New Deal, her proposal to reform the US economy in the face of climate change, and shift focus toward ending a reliance on fossil fuels and embracing eco-friendly energy.
Get the latest Oil WTI price here.
Do you have a personal experience with the coronavirus you’d like to share? Or a tip on how your town or community is handling the pandemic? Please email [email protected] and tell us your story.
Get the latest coronavirus business & economic impact analysis from Business Insider Intelligence on how COVID-19 is affecting industries.
Source: Read Full Article