Oil Is Slumping, Not Crashing

Our friends in OPEC are worried:

Saudi Arabia is pushing for a major short-term oil production cut as it seeks to respond to the impact of China’s deadly coronavirus on crude demand, according to OPEC officials….Representatives of the Organization of the Petroleum Exporting Countries and its allies are set to meet Tuesday and Wednesday to debate possible action after the outbreak originating in China, the world’s largest oil consumer, contributed to a sharp drop in crude prices.

Hmmm. It doesn’t look like all that sharp a drop. There are about five similar drops over the past two years, and none of them required a plague outbreak. So maybe January’s decline is just another ordinary little slump caused by a so-so global economy and an increase in American spare capacity thanks to fracking.

Or maybe we’re all going to die. Your choice.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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