Will Oil Get Kicked to the Curb After the COVID-19 Sales Slump?
It wouldn’t have seemed possible at the close of 2019, but the global COVID-19 pandemic has forced the world to learn to operate using a lot fewer fossil fuels. People are successfully working from home, proving to employers and other skeptics that a telecommuting workforce can still get the job done — at least in some fields. Outside of work, they are still mostly staying home and traveling less, which continues to cut back on fuel consumption.
Now that many parts of the country (and the world) are starting to open back up and slowly return to normal, it begs the question of what our future need for oil and gas could look like moving forward. Some believe that we will simply return to our old gas-guzzling ways once the pandemic is over, but that really depends on how ingrained those behaviors are and how we feel about them compared to the new way of life we more recently adopted. Let’s take a look at some possibilities.