Energy stocks dropped alongside declining oil price, decoupled and never really recovered as oil price went up, and it has been free falling for some time. Energy equities represent less than 5% of S&P 500 from 10% 5 years ago and even higher before then. Energy stocks trade below when WTI was trading at $26/bbl (Q1 2016). Today, oil prices are below where it was before the Abqaiq attack (9/14/19) when 5% of global oil production was shut down from a drone attack (zero risk premium for geopolitical instability). Fundraising market for energy private equities