OILPRICE | 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 21stof 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?
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