Tuesday’s biggest developments:
- Oil and gas regulators meet after prices plunge into the negatives
Texas Railroad Commission holds first meeting after oil prices drop to historic lows[5 a.m.] The Texas Railroad Commission, which regulates the state’s oil and gas industry, is scheduled to meet at 9:30 a.m. Tuesday after a historic Monday, when oil prices plunged into the negatives. The commission also met last week and took more than 10 hours of testimony from dozens of energy executives, analysts and critics who disagreed about whether the state agency should limit production.
Some say that such cuts would help, while others say the commission should not interfere in the free market, which is being battered by a huge drop in demand.
“We are evaluating all options to protect Texas operators and mineral owners,” Ed Longanecker, president of the Texas Independent Producers and Royalty Owners Association, told The Texas Tribune. — Mitchell Ferman
Texas nears 20,000 positive cases as nearly 500 people have died[5 a.m.] Texas officials are expected Tuesday afternoon to release the latest number of people who have tested positive for the novel coronavirus. On Monday, the state reported a total of 19,458 cases in Texas. At least 495 people have died.
See maps of the latest case numbers for each county and case rates per 1,000 residents.