The Daily Parker

Demand for petroleum has crashed so hard and so fast that North American oil producers have run out of space to store the excess. This morning the price of US crude collapsed, falling 105 500% to $-2 $-37.63 per barrel; Canadian oil prices also dropped negative. That's right, if you want to take a million or so barrels off their hands, they'll pay you to do so. (This only affects delivery by month's end; for delivery in May, oil still costs $20 a barrel.)

Meanwhile, in other horrific news:

• Canada suffered its worst mass shooting ever when a man posing as an RCMP officer killed 17 people in Nova Scotia. (Note that we in the US have had five mass shootings with more than 17 deaths in the last 12 months alone.)
• Greg Sargent notes that President Trump's support for right-wing protests has gotten even more dangerous.
• Greg Hinz warns that we need to preserve our democracy even as we agree to temporary restrictions on liberty.
• Snopes fact-checks the claim that more people died in the 1919 flu (the rebound from the 1918 flu) than in World War I, and finds it mostly true except for the timeline. And the second wave was not fueled by a lack of social distancing. ("While military parades and a lack of social distancing at the end of the war did not cause the second wave of the 1918 pandemic, they did exacerbate the problem.")
• The New York Times wonders whether the pandemic will cause people to flee cities.
• The Washington Post wonders how the pandemic will affect debt repayments as our budget deficit this year approaches $4 trillion (18% of GDP).
• Some hotel chains would like to go into debt with you, by the way, as they offer vouchers that mature in a couple of months for 50% more than you pay today.

Finally, the Covid-19 emergency has led to mass layoffs of architects, one of the hardest-hit professions in any recession. I'm currently reading Robert Caro's The Power Broker, his biography of Robert Moses, and just at the point where he mentions that in 1934, 5 out of 6 architects had lost their jobs. Everything old is new again.