Sorry, Greta. Sorry, Extinction Rebellion. We haven’t seen the end of the fossil fuels industry yet.
The dramatic slide in U.S. oil futures on Monday is over. Oil bears loved it. Oil haters celebrated “big oil’s” demise on Twitter (then deleted their tweets). The slide into negative pricing probably won’t happen again. Of course, there is never any certainty to that, but the coming end to lockdowns in the U.S. and Europe, coupled with China demand for oil, is building a hardwood floor under oil prices.
