When the earlier survey went into the field, it was unclear whether lawmakers would take legislative action to boost industries floundering as the coronavirus pandemic closed down large parts of the economy, and a number of sectors within the energy industry were pushing for a piece of a potential stimulus pie.
Over the course of April, things became even more uncertain for the oil and gas industry. As storage facilities filled up amid record-low demand, oil prices dipped precipitously, with West Texas Intermediate futures falling to a historic low of negative $37.63 per barrel on April 20.
And companies both small and large have felt the effects of the crisis. Royal Dutch Shell PLC cut its dividend for the first time since World War II last week, BP PLC saw a 66 percent decline in earnings in the first quarter of 2020 and Houston-based Diamond Offshore Drilling Inc. filed for bankruptcy.
Meanwhile, the tax credits and other relief options sought by the renewable energy sector did not make it into the latest stimulus package, despite heavy lobbying by solar, wind, storage and other sectors and support from a number of Democratic lawmakers, even as the industry faces supply chain disruptions due to the virus.
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May 04, 2020 at 11:01AM
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Even as Oil Prices Crater, Voter Support for Industry Bailout Hasn't Budged - Morning Consult
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