This week the near term price for crude oil fell to -$37.68 per barrel. This was driven by the expiration of the May futures contract on the 21st of April and holders not wanting to take physical delivery of a 1,000 barrels of the commodity. The world presently is ‘ swimming’ in oil as we all know by now. For an ‘oilie,’ like me, it was just another fairly depressing day watching the industry in which I spent my working life implode. To improve my mood I shifted my thoughts to re-grounding in the overall thesis and direction I saw for oil in the future. Not the far-flung future where the world will run on moonbeams and daffodils, but just a short piece down the road. Perhaps two or three years. Are we still going to need oil and gas? As discussed, anything related to oil and gas seems […]