Matt Doyle spoke with Associate Director of the Tulane Energy Institute Dr. Eric Smith about last night’s dramatic collapse in the price of oil…
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A Jefferson Parish resident being treated in Orleans Parish becomes the state’s first “presumptive-positive” coronavirus patient. Kevin Barnhart has more on the testing process
cut 2 (32) “…I’m Kevin Barnhart.”
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Oil prices have tumbled and the price for a barrel of oil is now in the 30s. Associate Director of the Tulane Energy Institute Dr. Eric Smith says COVID-19 fears and worldwide overproduction could lead to a prolonged period where prices stay in the upper 20s, lower 30s per barrel.
This morning’s price collapse is the biggest since 1991.
Smith says a big part of the collapse is news that Russia and OPEC will both ramp up oil production in an apparent price war, suppressing global prices.
That news led to a stock market collapse of seven percent, leading to the markets being halted for 15 minutes this morning.
Reports indicate the price war is partly an attack on American shale companies. Smith says it’s likely it’s many of them will consolidate with larger companies, or just go out of business.
Smith adds it won’t harm all Louisiana drilling, as liquid natural gas exists in a separate market.
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The Louisiana Department of Health has reported the state’s first presumptive-positive case of coronavirus. A Jefferson Parish resident is currently hospitalized in Orleans Parish. State immunization director Dr. Frank Welch says anyone who experiences symptoms should call their doctor to see if they fit the profile for someone in need of testing. If they do, special accommodations will be made.
Cut 6 (12) “…personal protective equipment.”
Welch says the first thing doctors will test for is the flu since the symptoms are so similar.
While awaiting testing results to come back, it is recommended that someone isolates themselves for that couple of days.
Welch says LDH is working with all insurers within the state, including Medicaid, to make sure the test is covered. As far as uninsured individuals, LDH is working with the federal government to make sure that cost is not a hurdle in getting tested.
The governor’s office says 15 tests have been completed in Louisiana, 14 came back negative and one is positive. It still must be confirmed by the Centers for Disease Control and Prevention.
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Republican Congressman Ralph Abraham’s Chief of Staff, Luke Letlow, formally announces he’s entering the race to replace his boss who’s not seeking reelection for the 5th Congressional District. Letlow, was immediately endorsed by Abraham and says his experience with the three-term congressman will continue to move Louisiana forward.
Letlow, a native of the small town of Smart in Richland Parish, says he identifies with the rural members of his district.
If elected Letlow says he would seek a committee seat on the House Agriculture Committee.
Cut 11 (10) “…those committees.”
Letlow is the third Republican to announce he’s running, along with State Representative Lance Harris of Alexandria, and Ouachita Parish Police Juror Scotty Robinson of West Monroe. Candy Shoemaker-Christophe or Alexandria is the only Democrat to announce her candidacy.
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The Louisiana Department of Health has confirmed the state’s first presumptive positive case of the COVID-19, commonly referred to as the coronavirus. The patient is a Jefferson Parish resident who is hospitalized in Orleans Parish.
Governor Edwards told lawmakers about the case on the opening day of the 2020 Legislative session
Edwards encourages lawmakers to share accurate information with their constituents and also gave them the most up to date information about ongoing testing in the state.
Edwards reaffirmed that his office will announce all confirmed cases and that the state is being as proactive as possible to contain the virus.