WOW, I really do not know where to start. The world has changed dramatically in the last 2 weeks and it seems to have affected all in some way. The last time oil prices dipped this low was in 1998-99 which is the year I graduated from college but by the beginning of 2000 they had risen to over $40 per bbl. There are plenty of negatives to focus on at this time, but I was sent an email today with lots of positives, some of which are below:
Congress, in the Clean Water Act, explicitly directed the U.S. Environmental Protection Agency (EPA) and the Department of the Army (Army) to protect “navigable waters.” Section 404 of the Clean Water Act for purposes of regulating wetlands only mentions protection of “waters of the United States”, but did not define them. This caused decades of confusion and legal disagreement among those regulated by the Clean Water Act and by those who regulate the Act. This resulted in numerous lawsuits, several of which were heard by the US Supreme Court in 2001 and 2006. It has also caused delays and increased costs for those whose plans for development caused unavoidable impacts to wetlands.
Quarantine making you stir crazy? Try your hand at this crossword puzzle as printed in the October, 1998 SGS Newsletter.
Social Distancing! Yes, I am tired of hearing the term as well and hope that change is coming soon. I have been home for almost a month now as I am sure most of you have been as well. I am very encouraged that the number of COVID-19 cases in the area have plateaued and hospitalizations have been decreasing. The unknown part now is when and how to restart our economy, especially the oil and gas sector. In the beginning, most people I spoke to said how they had been through a downturn and low oil prices in past years and we would get through this eventually, but I do not think anyone saw oil prices going to negative $37! I sure hope that we never see those types of numbers again.