for Oil Prices
A growing number of analysts believe that U.S. production will never again hit recent highs.
Coronavirus and collapsing oil prices have hollowed out budgets of oil-producing countries, raising fears of instability.
Oil's collapse must force a reckoning for Saudi Arabia, which has long relied on oil revenue to hold its economy together.
In addition to oil, energy dominance should harness the diversity of fuels the United States has to offer and use them all to power our transportation sector.
More than half of U.S. wells are set to become uneconomic as oil prices continue to slide—and American oil workers will bear the brunt.
The negative prices are an anomaly, related to the expiring contract in May. But the meltdown also reflects a ruinously oversupplied oil market.
OPEC+ agreed to the largest cuts in history, but oil prices barely moved in response.
The success of the world's largest oil production cut may hinge on the United States.
A major production cut of 10 million barrels per day would be historic in size - and probably fail to move the needle.
With a barrel of Canadian oil now cheaper than a pint of beer, producers have begun to shut in production.