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'Love to see it': AOC deletes tweet celebrating oil price crash after she is criticized for making light of job losses

Alexandria Ocasio-Cortez was forced to delete a tweet Monday saying 'you absolutely love to see it' while celebrating the price of oil crashing. 
The Democrat quickly removed the post after being criticized for celebrating job losses, but still used the economic collapse to plug her Green New Deal, which focuses on environmental issues. 
The price of U.S. oil crashed into negative for the first time in history Monday as demand dries up and producers effectively pay buyers to take barrels off their hands. 
In the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic, the cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year.
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'You absolutely love to see it,' Ocasio-Cortez replied to a post which said: '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.'
Representative Jodey Arrington, a Republican from Texas, hit back: 'I don’t “love to see” oil & gas workers & their rural communities suffering as a result of this devastating price collapse, @AOC.
'Places like West Texas & hard-working men & women in the oil patch power the bright lights of NYC... including the hospitals!'
Alexandria Ocasio-Cortez was forced to delete a tweet Monday saying 'you absolutely love to see it' while celebrating the price of oil crashing
Alexandria Ocasio-Cortez was forced to delete a tweet Monday saying 'you absolutely love to see it' while celebrating the price of oil crashing
AOC  removed the post but still used the economic collapse to plug her Green New Deal
AOC  removed the post but still used the economic collapse to plug her Green New Deal
Despite deleting her gleeful tweet AOC followed up with a post calling the slump a 'key opportunity'.
She wrote: '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 Democrat retweeted an account which said: 'Let's be clear - the fossil fuel industry was struggling way before COVID19.'
And AOC also took the opportunity to plug her Green New Deal in the wake of the devastating economic news, retweeting an account which urged lawmakers to 're-think fossil fuel dependence and move to renewable energy sources'. 
She said: 'Now is the time to create millions of good jobs building out the infrastructure and clean energy necessary to save our planet for future generations. For our economy, our planet, and our future, we need a #GreenNewDeal.'        
Oil is traded on its future price. The May futures contract expires Tuesday, exacerbating the volatility.
By Monday evening US oil prices had rebounded back above zero.    
The cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year. Traders are still paying $20.43 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the 'true' price of oil
The cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year. Traders are still paying $20.43 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the 'true' price of oil
Monday's sharp decline is a result of May's futures contract closing Tuesday, when trading contracts for it expire and the earliest delivery they'll be able to buy is for June. 
Traders fled from the expiring May US oil futures contract in a frenzy on Monday, sending the contract into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude. 
They are quickly running out of places to store crude to be delivered next month with storage tanks close to full amid a collapse in demand as factories, automobiles and airplanes sit idled around the world. 
Tanks at a key energy hub in Oklahoma could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts. 
Because of that, traders are willing to pay others to take that oil for delivery in May off their hands, so long as they also take the burden of figuring out where to keep it.
'Almost by definition, crude oil has never fallen more than 100%, which is what happened today,' said Dave Ernsberger, global head of pricing and market insight at S&P Global Platts.
'I don't think any of us can really believe what we saw today,' he said. 'This kind of rewrites the economics of oil trading.'
Brent crude, the international standard, fell nearly 9% to $25.57 per barrel.
The plunge in oil sent energy stocks in the S&P 500 to a 3.7% loss, the latest in a dismal 2020 that has caused their prices to nearly halve. 
'The people who are long are desperate to get out,' said Phil Verleger, a veteran oil economist and independent consultant. 'If you don't have storage you have to get out.'
Major oil-producing nations have agreed to cut output and global oil companies are trimming production, but those cuts do not begin until May.
Saudi Arabia is ramping up deliveries of oil, including big shipments to the United States.
Worldwide oil consumption is roughly 100 million barrels a day, and supply generally stays in line with that. But consumption is down about 30% globally, and the cuts so far are far less.     

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