Not surprising but interesting as I have a friend who is retired from there tell me Tuesday night he may be brought back to work. He’s a radio engineer that places radio systems, voice and data, into operation in oil fields and refineries.
Companies in oil related fields are very good in responding to a slow down by curtailing production and reducing the labor force. Much better than our government can ever hope to be. Needless to say this also will diminish the supply until an equilibrium is reached. Once again when demand will exceed the supply, prices will shoot up as they always have. Needless to say shutting down goes a lots faster than getting back in to gear.
Unless anyone thinks that energy will go out of style now is a pretty good time to pick and choose amongst some of the top and best producers in oil related stocks and issues. The time to buy is when everyone runs for the exit and not to try and get on the train after it has left the station.