Good morning. So this meeting will now come to order. Today the subcommittee is holding a hearing entitled oversight of doe, during covid19 pandemic. Members will be participating in todays hearing finally in person or remotely via video conferences. And just as a reminder weve had some technical difficulties in making sure that our remote video was operating up to standard. As part of this hearing, the microphones of members participating remotely will be set on mute for the purpose of eliminating inadvertent background noise. Members participating remotely will need to unmute their microphones each time you wish to speak. For members and witnesses participating in person, i encourage you to wear your mask whenever you are not speaking. Dr. Monahan, our physician, stressed in attending physician covid19 guidelines that use of face coverings is meant to protect other people in case someone was unknowingly infected and does not have symptoms. But wearing our mask when we are not speakin
555 dow points. Ahead on todays show, were going to dive into this plunge in oil prices, what it means for the u. S. Economy and jobs to the financial losses reverberating through the market right now plus we will speak with illinois governor j. B. Pritzker and former commerce secretary Penny Pritzker, his sister, about illinoiss battle against the coronavirus and the race for more protective gear and testing. Lets focus in on the big stories were watching with 58 minutes left of trading. Brian sul vab focusing on crude oil collapse, mike santoli will tie that in with broad movements were seeing today latest on the snag on government funding. Brian, first to you on this unprecedented move in oil. A day for the history books. It is a day for the history books. Ending a futures contract in negative 30 or what it was. Sara and wolf, it doesnt make sense as i talked about in power lunch as well. We started the day around 10. We continued to fall now negative 30 these are contracts. Negativ
The slowdown in deaths in spain and italy are the few bright spots across europe and some countries gradually start to reopen. Brazils president joins a rally against isolation measures put in place by state governments. A grim economic fallout of the new coronavirus pandemic for the 1st time in history u. S. Oil prices have crashed below 0 dollars into negative territory thats because theres more oil in the market because of low demand and producers are running out of storage lockdowns around the world in response to the coronavirus have produced a massive slump and demand for energy u. S. President donald trump says a collapse in prices is short term and suggested that it could even be a positive thing for america. Based on the record low price of oil that youve been seeing. At a level thats very interesting to a lot of people were filling up our National Petroleum reserves through dziedzic you know the Strategic Reserves and were looking to put as much as 75000000000 barrels into th
America has been through viciously divisive periods before far worse than what we live through today with the hindsight of history we can see that as the Inflection Point between an old system that is broken down and a new one sorry at the Inflection Point . Absolutely right in the middle of it the best example is that in 2016 with the republican primary there was a real civil war and the Republican Party the establishment representatives like jeb bush and others didnt get the nomination or the support of the American People it was donald trump the democrats are going to the same thing right now they are having a civil war in their party is it going to be a traditional democrat or the outsider or socialist and then to govern the people but after a long period of thoughtfulness to go through the divisive periods we are a dynamic country geographically economically we are costly reinventing ourselves as individuals and as a nation and government by our very nature and then they get stuck
The future of agriculture. This is a fitting theme for the secretary to announce something that we have been working on a usda called the agriculture innovation agenda. We are excited to share more with you this morning. I am joined in this room by many of you that are working to shape the future of our agricultural economy. It is important that we take stock, not only of where we are today but also of where we need to go to meet a growing Global Demand with rising standards of living in a time where producers are dealing with uncertainties in the farm economy and the conditions needed to farm, including the climate. Our chief economist, doctor rob johansson, will provide an indepth overview of the state of the farm economy. There is a lot to taken in 2019, it was certainly not a typical year. There were many factors influence in the economy including extreme weather, trade and policy changes an importing and exporting countries to name just a few. Following doctor jays top, the secret