Gas vehicles don't have to be dead though. Even if there's slowly eroding demand, that could be enough to put a ceiling on the sector long term. I don't have to like it to see the writing on the wall. Plus, I can tell you that telecommuting is here to stay for a lot of businesses. Even after the lock downs are over, there will be a net loss off business commuters.
You’re looking at it from an American perspective and forgetting about the rest of the world. Oil is a globally traded commodity. China has four times the people as us, India has three. Neither are worried about saving the planet, they just want to grow their economy as much as possible.
Announcing the death of oil is premature.
