- Energy stocks have taken a beating over the last few weeks.
- Concerns about a worldwide resurgence of COVID-19 have raised the specter of declining economic activity and the negative potential impact on oil demand.
- Longer-term two news items last month, one from the governor of California and one from China, probably pushed the sentiment surrounding the group even lower.
- There continues to be an ill-conceived media narrative perpetuating this tale of woe.
- I do believe climate change is real and a threat to our planet, but the feared demise of oil as a primary energy source now and into the foreseeable future seems a bit overdone.
For further details see:
The Death Of Oil