“Elon Musk Day” was trending on Twitter yesterday as many, including myself, celebrated him on 4/20, but what wasn’t planned was oil prices crashing to $0. Actually, oil went past $0 and into negative territory.
With the COVID-19 pandemic keeping many people and cars at home and the looming threat of mass bankruptcy forcing consumer demand even lower, we have to ask: are gas stations making any money?
The coronavirus has devastated business as usual. Perhaps now is the time to think about what business should look like in the future instead of the past?
A Wood Mackenzie research note sees strong growth ahead for renewables, propelled by stable returns on investment.
“We have to act fast, and achieve the biggest possible impact with the actions we take.”
Whoa, did CNBC take a U-turn? Is it going to start trolling oil companies instead of Tesla? Or did it just accidentally bring the wrong analyst onto a show?
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning US sanctions on Iranian oil.
A prominent hedge fund manager says oil could hit $300 a barrel in a few years as concerns about electric vehicles make oil producers nervous about expanding their exploration efforts.
The president promised a surge of jobs and tax revenue from oil. His policies won’t deliver either one.
That move by the government of Mexico to greatly reduce fuel subsidies was a necessity (more or less) owing to the rapidly declining rate of extraction at important state-owned oil fields, but it nonetheless proved to be the last straw for some in the country, who simply couldn’t afford to continue purchasing “needed” quantities of fuel, and thus probably had to deal with transportation problems and employment problems that accompany a lack of reliable transportation.
