Oklahoma Asks Trump to Declare Pandemic an Act of God to Shield Oil Companies

[douglas9]

OKLAHOMA CITY (CN) – Oklahoma Gov. Kevin Stitt asked President Donald Trump Saturday to declare the Covid-19 pandemic an “act of God” to shield the oil and gas industry as it grapples with the dual shocks of collapsed demand and surging supply as U.S. oil futures contracts briefly went negative this week.

A fellow Republican, Stitt asked for the federal declaration to “provide aid to our oil and gas industry and to protect the environment” by limiting over-production with nowhere to store the excess.

“We have seen evidence of this demand destruction, gross oversupply, and lack of available storage in the recent market collapse – causing oil futures to close negative for the first time in recorded history,” Stitt’s letter states. “ Many operators desire to voluntarily reduce or cease producing on a temporary basis, without fear of parties taking advantage of an opportunity to cancel leases as a result of the curtailment of productions.

“We are asking your Administration to declare the COVID-19 pandemic a ‘force majeure’ or ‘act of God’ for the narrow purpose of protecting these producers from actions to cancel leases held by production as a resulting of production stoppage.”

https://www.courthousenews.com/oklahoma-asks-trump-to-declare-pandemic-an-act-of-god-to-shield-oil-companies/

[WVreaper]

1. More like an act of stupidity, or negligence,

God had nothing to do with it.

[Alacritous Crier]

2. +1

[justgamma]

3. Can he blame God

when he's trying to blame China?

[heckles65]

4. Why is it the people who tell us to 'put everything in God's hands -'

at the same time charge him with doing the most awful things?

[RussBLib]

5. and all the prayers in the world

ain't gonna do shit.

We are on our own kids, so we best grow up and act like rational adults.

[hack89]

6. Force majeure is standard contract language

Force majeure is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic or an event described by the legal term act of God, prevents one or both parties from fulfilling their obligations under the contract. In practice, most force majeure clauses do not excuse a party's non-performance entirely, but only suspend it for the duration of the force majeure.

We are going to hear this phrase a lot as the economy is disrupted.