From the perspective of Democrats, the proposed reopening of the economy to increase consumption as a cure for low oil prices is a risky move that could potentially jeopardize public safety. This was made evident during an April 22 conference call hosted by Morgan Stanley between five top officials from the law firm Akin Gump, including former Rep. Lamar Smith (R-TX).
Smith has long been an outspoken climate-change skeptic and lobbies on behalf of groups backed by the fossil fuel industry. During the discussion, he and Morgan Stanley executive director Devin McDermott agreed that reopening the economy would help revive oil prices. However, McDermott did not specify who he was referring to when he said “we definitely agree,” causing some concern about political decision-making driven by special interests from those in attendance.
This apprehension is well-grounded, as many experts believe it is too early to reopen economies around the world without proper safety protocols such as widespread testing or contact tracing in place first. Without these measures, reopening any economy could prove disastrous as far as controlling further outbreaks or spread of COVID-19 is concerned.
It also appears that certain states have moved forward with loosening restrictions without sufficiently reviewing all factors involved or consulting health experts beforehand. This lack of foresight can be seen in Texas Governor Greg Abbott’s decision to reopen salons, barbershops and restaurants at full capacity starting on April 30th despite concerns from local businesses and health professionals alike over potential risks associated with doing so too soon.
Democrats have been vocal in their opposition to this type of reckless decision-making out of fear that it may lead to more cases or spread of COVID-19 across different communities within their state borders and beyond. In order for any sort of economic recovery plan to be effective, it must include specific public health measures put in place prior to reopening in order to ensure that people remain safe while going about their everyday lives. Until then, reopening most parts of any economy should remain off limits until further notice from the Democrats’ point of view given how much is still unknown about how this virus spreads and affects individuals differently across different social settings.
