Last week, oil prices went negative. There is nowhere to store the oil being pumped out of the ground because demand, due to the coronavirus, has collapsed. There is less flying, less driving and fewer factories operating. So oil producers and their financial backers have been paying folks to take their oil. There are jokes going around that if you had a big storage tank in your basement, you could get paid to take some oil and sell it at a huge profit when, and if, the price goes up again.
West Texas is oil country. But there is something else going on in West Texas: it is a world capital of wind energy. Last year, Texas got more of its energy from wind — 23.4 percent — than any other U.S. state. In fact, if Texas were a country (which some might argue it is) it would rank fifth in the world in wind power generation, just behind Germany and India.