Alberta did the same two years ago
It's desperate times in Texas.
The WSJ reports that regulators are considering a production curtailment:
Several oil executives have reached out to members of the Texas Railroad Commission, which regulates the industry, requesting relief following an oil-price crash.
Texas hasn't taken that kind of step since the 1970s but Alberta had some success with similar measures after a production glut in recent years.
It is unclear whether regulators will ultimately act to curtail production, but staffers are examining what would be required in such an event, the people said.
Oil was up $50.00 to $25.37 in the largest percentage rally ever. Normally I'd accuse someone of having inside information but the volatility in every market right now is breathtaking.
