Stephen Waguespack from LABI was on the show to discuss the oil crisis. Stephen says that a lot of areas of the state are being hit hard due to the low oil prices. He tries to explain why the oil prices are so low, due to the Coronavirus and Russia and Saudi Arabia producing a lot of oil. Stephen talks about what the federal government is working on to raise oil prices to help the oil companies. He says that the independent oil companies need royalty rate reduction and oil barrel reductions to help them sell their oil at a more fair price. Then, Stephen breaks down how LABI continues to help small businesses during the Coronavirus shutdowns.
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