The State of Texas: Oil prices plummet and Texas braces for the impact

Plus, everything you need to know about the coronavirus in Texas, and Royce West picks up a major endorsement. [View in browser]( [A_TMGS_BullHat_Premium300x250@1x-2](  [Texas Monthly][Texas Monthly](    The State of Texas   March 10, 2020 In today's State of Texas: Oil prices plummet, everything you need to know about the coronavirus in Texas, and Royce West picks up a significant endorsement. –Leif Reigstad  Editor's Pick   [In this Thursday, Feb. 27, 2020 photo, a traveler wears a mask while waiting for a flight at Dallas Fort Worth International Airport in Texas. DFW suspended all direct flights to and from China last week according to a DFW press release.]( news [What You Should Know about Coronavirus in Texas]( A look at what we know so far about COVID-19. [Read Story]( By texas monthly Quote of the Day "I am most worried about my people and what this means for their future, and I don't know what that is yet. We are planning to carry on and do another event in 2021, but how we’re going to do that I'm not entirely sure." —South by Southwest co-founder and Chief Executive Roland Swenson to the [Wall Street Journal]( after this year's festival was canceled due to the coronavirus.  The State of Texas  Oil in bust territory after stark decline Oil prices fell nearly 25 percent Monday, a dramatic plunge that could have a devastating impact in Texas. According to the [Wall Street Journal]( this is the biggest single-day drop for oil since the start of the Gulf War in 1991. U.S. crude prices fell 25 percent to $31.13 a barrel, prompting global stock markets to crater. The crash is the result of a one-two punch: Saudi Arabia last week "declared a price war on Russia," per the [Texas Tribune]( and the market has been increasingly fragile amid concerns over the coronavirus. The extent of the damage to the Texas economy will depend on how long the oil war and the coronavirus crisis last. Texas Senate hearings canceled due to coronavirus Lieutenant Governor Dan Patrick canceled all Texas Senate committees set for this month, the [Austin American-Statesman]( reported. "Public testimony is important—we want to hear the voice of every Texan and make sure they are comfortable traveling to committee hearings," a Patrick spokesperson told the Statesman. "Lieutenant Governor Patrick believes this step is the prudent thing to do at this time as Texas continues ongoing efforts to contain and mitigate the impact of COVID-19." In other coronavirus news, Collin County health officials announced Monday that a Frisco man has a "presumptive positive" case of the virus, raising the total number of confirmed cases in Texas to 24. According to the [Dallas Morning News]( the man is in his thirties and recently traveled to California. Ramirez endorses West over Hegar Days after she narrowly missed out on the Democratic Senate runoff, Cristina Tzintzún Ramirez endorsed Royce West over M.J. Hegar for the chance to challenge Senator John Cornyn. "On every single issue that I care about as a progressive, it is clear to me that he is the stronger choice, and I will do everything I can to help him get elected," Ramirez said Monday, according to the [Texas Tribune](. Ramirez finished about one percent behind West in last week's primary, and about nine percentage points behind Hegar. West reportedly also expects to pick up endorsements from two more former competitors, Chris Bell and Michael Cooper. West said Monday that Ramirez's endorsement is "historic from a standpoint of a true relationship that will bring Latinos and African Americans further together as well as Anglos and others." SPONSORED [Balcones Distilling: The Original Texas Whisky]( Balcones Distilling has put Waco on the map as home to the most celebrated whisky makers in Texas and beyond. Read how they're leading the way in Texas whisky. 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