for Low Oil Prices
The outcome of the election will have significant implications for the energy industry – but some trends are beyond White House control.
China's plans to achieve net-zero carbon emissions by 2060 is the latest high-profile development in the shift away from fossil fuels.
Even after historic cuts, lower demand means the oil market is still under pressure.
BP believes evolving policy, technological advances and COVID-19 mean peak oil demand will be reached in the 2020s—or has already happened.
In a sign of the times, ExxonMobil has been replaced on the Dow Jones Industrial Average by tech company Salesforce.
The Dakota Access pipeline shutdown could remove 570,000 barrels per day of takeaway capacity from the Bakken shale formation.
With global demand perhaps permanently scarred from the pandemic, the U.S. oil industry may have already peaked.
While almost every other industry increased employment, the number of people working in the U.S. oil and gas sector continued to fall.
Two high-profile pipeline setbacks are part of a broader story in which the winds facing the oil and gas industry are blowing in an increasingly unfavorable direction.
A tighter market could help shale bounce back, but the heady days of aggressive growth-at-all-costs drilling are long gone.