The oil industry is kind of stuck between a rock and a hard place. Investors are growing impatient with even the largest oil companies, as the FT reported. In the short run, low oil prices, and the threat of higher U.S. shale supply, completely saps investor enthusiasm around the oil industry. But in the long-term, the prospect of peak oil demand is an even larger problem. A deceleration in demand growth, and, ultimately, a decline on an absolute basis, throws into question the valuations of multinational oil and gas companies. At worst, the majors may not be able to produce all of the oil and gas reserves on their books, and the amount of “stranded assets” could balloon if governments eventually get serious about addressing climate change. All of that means that investors are losing faith in the case for oil companies large and small. The energy sector badly […]