OIL INDUSTRY CRISIS THREATENS US ALL
As the COVID-19 epidemic spread across the world and communities and states began drastic measures to encourage people to self-isolate, the price of one of our most precious commodities, oil, plummeted on the global market. The results of both could spell economic failure to the United States as well as other nations in the world.
Further complications occurred as a production agreement between Russia and Saudi Arabia failed when Russia failed to follow Saudi Arabia’s plan to deepen price cuts. Now the two nations are locked into a war on which one has the market share. In the middle of the COVID-19 crisis and the two giant oil-producing companies’ fight, are the U. S. oil companies, and the most vulnerable are the smaller oil producers in states like Texas, Oklahoma, Pennsylvania, Ohio, Colorado, and North Dakota. Analysts expect the price-war to result in a hit to the U. S. economy and potentially wipe out the smaller independent oil producers. When oil prices drop, smaller companies may go out of business. Most likely the larger oil companies will take advantage of struggling independent producers and purchase the companies at rock bottom prices. Many people may lose their businesses, and many others may lose their jobs.
Dear Lord, I’m grateful to you for the abundant energy you’ve given America. Thank you for the ingenuity of the men and women who took risks and endured hardships to find oil and make it usable. Thank you for the oil industry’s contribution to this nation and the many comforts we enjoy because of the abundant energy you have given us.
Now, Lord, we pray for every oil-related business in America as each one endeavors to weather the storm in which they find themselves. We believe your Word when you said you would be a refuge for the poor, a refuge for the needy in their distress, a shelter from the storm and a shade from the heat. You rebuked your disciples for their failure to rebuke the storm that threatened to take their lives, so Lord, we speak to this storm caused by a disagreement between Saudi Arabia and Russia, and we say, “Peace be still.” We speak to the storm of COVID-19 and we say, “This plague must stop in the mighty Name of Jesus.” We ask that you steady the market. Save our industry from the largest business to the smallest. We say we will stand firm in our faith in you during this time. We will watch and see the deliverance the Lord will give us this day!
(Isaiah 25:4 and Matthew 8:23-26)
About the Author: Nancy Huff is an educator with a mission to equip believers to pray strategically for the Cultural Mountain of Education. She has authored Taking the Mountain of Education: A Strategic Prayer Guide to Transform America’s Schools. She leads prayer groups to pray at key educational locations across the US. Currently, Nancy serves as the Heartland Apostolic Prayer Network (HAPN) Lead Prayer Coordinator for the Mountain of Education. For additional information go to: https://takingthemountainofeducation.com/author/nancyahuff/
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