In the Post-Virus World, We May Never Recover its Thirst for Oil

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  • The oil industry is at a major crossroads right now, with prices completely bottoming out and hitting all-time economic low points.
  • The collapse is obviously tied to the COVID-19 pandemic and the drastic economic downturn that's followed in its wake, but it's also been put in a vulnerable position by an increasingly large group of people who want to move away from renewable energy sources.
  • The oil crisis is also made worse by the inescapable reality that fewer people are driving, and that more people than ever are being allowed to work from home -- maybe forever.
  • It is extremely possible that global demand never returns to its 2019 high point.