Another 4.4 Million; Reopening Georgia; Oil, Oil Everywhere

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 23 April 2020

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Description: The Labor Department’s latest jobless claims report revealed another 4.4 million Americans signed up for unemployment benefits, bringing the five-week total to over 26 million people. Despite backlash from health care officials and President Trump, Georgia’s Governor Brian Kemp plans to begin reopening parts of the state’s economy, including spas, gyms, and beauty salons. A small business owner in Atlanta says she’s not ready. Virginia Senator Mark Warner explains the trouble with reopening state economies without sufficient data. Plus, longtime energy analyst and Pulitzer Prize winner Dan Yergin explains oil’s wild ride, its plummeted demand, and where all of the excess will go.

Transcript

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0:00.0	This is Squack Pot. I'm C. NBC producer Katie Kramer. Today on our podcast,
0:06.0	Georgia prepares to ramp its businesses back up.
0:08.8	Virginia, Senator Mark Warner lays out his concerns about reopening economies too soon.
0:13.6	Reopening should be a priority, but it's got to be data driven.
0:17.4	An Atlanta area hair salon owner says what's required to open safely in the new normal
0:22.3	has her stretched too thin.
0:24.0	This can't happen overnight.
0:25.4	I'm just not prepared to do this.
0:28.1	And Oil's demand drops off a cliff.
0:30.4	Energy market historian Dan Juregan
0:32.2	on the coronavirus's unexpected shock to the system.
0:35.0	The number one commodity, the most prized commodity today is storage, not oil,
0:40.0	and there aren't very many places in the world to put it.
0:42.8	It's Thursday, April 23rd, 2020,
0:45.2	Squawk Pot begins right now.
0:48.0	Good morning, everybody.
0:49.3	Good to see you.
0:49.9	Welcome to Squack.
0:51.2	I'm Becky Quick, along with Joe Joe Kernan and Andrew Ross Sorkin.
0:54.0	Let's take a look at what's been happening.
0:56.0	Another week in the pandemic, another round of unemployment data.
1:00.0	This week's Labor Department report of initial jobless claims
	...

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