It Wasn't Just The Pandemic: Oil's Terrible, No Good, Very Bad Year
The coronavirus-induced collapse in oil demand stole all the headlines. But oil companies faced a myriad of other woes, too, from hurricanes to itchy investors — and, of course, climate change.
It's no surprise that the oil industry had a terrible, horrible, no good, very bad year. Oil powers the vast majority of the global transportation system, and the pandemic froze most of the world's population in place.
But set aside the pandemic. Ignore the collapse in demand. Forget about the time oil prices went negative. Look at everything else that happened this year, and —
Well. Oil still had a pretty terrible year.
Between hurricanes, geopolitical rivalries, irate investors and climate pressures, oil producers faced a host of challenges that weren't created by the coronavirus — and can't be cured with a vaccine.
In the Gulf
