So now all those idiots that professed climate change as the biggest threat to humanity and the planet will just have to STFU. I would say besides the economy, global pandemics will now be in the top two of American concerns. Any candidate like Ole Joe will be laughed off the stage talking about climate change and the Green Movement.
Guess Greta will have to find another cause. Maybe become a Vegan and kill cows.
Oh and then there’s $2 per barrel spot crude. Devastating to the global oil business but everything we do will be 40 - 50% cheaper. Trucking and manufacturing costs, electricity, flying, roads, roofing, cosmetics, pesticides, flooring, carpeting, plastics, etc. too many to mention.
And the drive toward clean energy and cars will hit the pause button. Bigger trucks and SUV’s.
But the US and the world will lose drilling, refineries and distribution companies and about 40% of oil industry employees.
So when the global economies come roaring back in 6-10 months there will be a sharp spike in prices once overflowing inventories levels are drawn down.
In my career I’ve traded $8 crude and $147 crude. When markets go to extremes they often whipsaw back.
But enjoy $1 per gallon gasoline.
(no message)
(no message)
pandemic and climate change. But for now, AGW alarmists become irrelevant. We can enjoy a temporary victory for a short time.
(no message)