Coronavirus, Oil, and Kansas

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 11 March 2020

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Oil prices are way down. We follow the story from an outbreak in China, to a meeting in Vienna, to a small-time oilman in Kansas. | Subscribe to our weekly newsletter here.

Transcript

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0:00.0	This is Planet Money from NPR.
0:04.0	On Monday morning, two days ago, we woke up and all of the new usual things were happening.
0:13.4	This new coronavirus was spreading, the stock market was way down, but on top of those two
0:18.0	giant things was another new giant thing.
0:21.7	The price of oil had just fallen by about 25%.
0:26.3	The biggest dropped this century.
0:28.6	And the price of oil is this very special price.
0:32.0	It's set or sort of set by this powerful international cartel, OPEC.
0:36.6	The oil price affects everybody on earth.
0:39.0	You know, it affects how much it costs to drive and to transport stuff to market.
0:42.7	It has an effect on climate change.
0:44.9	And the oil price has all these really interesting global geopolitical dimensions.
0:49.9	It's this world where a fight between oil ministers in Vienna changes people's lives
0:54.2	in the middle of America.
0:56.5	Hello and welcome to Planet Money.
0:59.6	I'm Jacob Goldstein.
1:00.8	And I'm Mary Childs.
1:01.8	Today on the show, we follow the plunge in oil prices.
1:05.3	From a viral outbreak in China, to a meeting in Vienna, to a little mom and pop oil business
1:10.1	in Kansas.
1:16.4	Support for NPR and the following message come from Hiscox, the business insurance experts
1:20.9	who tailor intelligent insurance solutions to fit each business's very specific needs,
	...

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