Who knows what the new normal for oil demand will be once Covid-19 is firmly in the rear view mirror? It is likely to be lower than it was in 2019, and it could be that way for many years. That’s going to create overcapacity throughout the oil supply chain and weigh on prices. While signs are emerging that we ...

The US government has spent $2.6 trillion to support the economy as the coronavirus pandemic spreads, and the Federal Reserve has about matched that amount in asset purchases. We’re not finished fighting Covid-19, so protecting the economy in 2020 may be the most expensive thing the US has ever attempted. Consider that the US spent about $4 trillion in today’s ...

The World Health Organization (WHO) has been generous with its praise throughout this pandemic. China, Singapore and Ireland have all received plaudits for their handling of the coronavirus crisis. Now that a new turning point is in sight, with the infection’s spread slowing and draconian lockdown measures being gradually lifted, the WHO is promoting the Swedish way of doing things. ...