It comes down to costs and being bypassed by technological innovation, amid stagnating demand for electricity
Folks started driving again – including those who used to take mass-transit. But jet fuel demand is still in collapse-mode. And overall consumption remains way down.
Who the heck bought those shares? Robinhood traders? And who placed this press release and cashed in on it?
The bankruptcy epicenter is in Texas.
“There’s a lot of extend, amend, and pretend with respect to finance documentation. But at some point the music will stop.”
No “V-shaped recovery back to normal.”
What took them so long? And while they’re at it, they should also investigate US Natural Gas Fund UNG.
It started in mid-February for jet fuel and in mid-March for gasoline.
While everyone is watching the meltdown in the crude oil market, the global market for natural gas is also cratering.
The US Energy Information Agency (EIA) dissects the historic event.