Experts in the News

"Only the Great Depression would even be remotely close (to the losses this quarter) and I think this swamps that,” finance fellow John Diamond said of the economic costs of social distancing. “There’s been a shutdown of a pretty good part of the economy, and as that goes on that’s going to impact other parts of the economy. It’s a domino effect, and as we go from two to three months to three to four months and every month thereafter, it will get worse.”

"It's a major climbdown for Russia and particularly Saudi Arabia, which picked a terrible time for a price war," energy fellow Jim Krane said of the OPEC+ agreement to cut 10 million bpd in May and June.

"A lot of projections are saying that this is not a one-off thing. We're going to be dealing with this virus ... for at least a couple of years," said fellow Peter Hotez on the possibility of Covid-19 becoming a recurring problem.

Current gloom notwithstanding, oil will likely remain the world’s most important energy resource for multiple decades, says energy fellow Gabriel Collins. Baker Institute blog: https://bit.ly/34fV3d1 via Forbes.

"It is such an unfamiliar place for us to be. We haven’t seen the U.S. cutting production since the early 1970s,” said energy fellow Jim Krane about the plunge in oil prices and the pressure to limit the amount of U.S. crude flowing into global markets.