2021 will be a year of even bigger turmoil for the energy industry as a whole. The world starts to wake up to the fact, that most national economies have been bubbles before COVID hit us. More than a decade of money printing has hollowed out the substance from the markets and filled it up with worthless paper. Projections are wishful thinking at best, and COVID has just put steroids into the decay process. 2021, we will see serial failures of businesses. Unemployment will go through the roof, and the loss of their developed world markets will blow up the economic prospects of China and its Tiger brothers. We had it coming for a long time, and we won’t sort this out in a few months. That’s not good for consumption of anything – including oil.
As the new year dawns, the U. S. oil and gas industry is relieved to be leaving 2020 in its rear view mirror.