Now would be a great time to buy oil futures because oil will only ever appreciate in value. If not in the short term, maybe I guess, bit if you have the money buy oil and make a fuvking killing when it hikes itself back.
(I'm awful with money so don't listen to a word I say!!)
Electric vehicles will replace oil by 2050 or around then. Fossil fuels will get phased out, there should be mineral extractor, new building type for ee.
I have considered looking at the futures/options market for oil but the issue is that those derivates tend to be issued around the current prices and new ones are only issued every few months (at least on the markets I can trade on). So it's possible there are no good derivates for this assuming the oil price keeps dropping to $20, the lowest futures/options might be for $50 in say end of 2021 with a premium that requires the price to be $60 for breakeven.
That would be a gamble even if a vaccine is created by spring 2021 and distributed to generate a flock immunity within a few months. The wheels might not start spinning fast enough for that to work and perhaps the non-reversible damage to the economy is large enough that we wont pass $60 for a few years.
This is not really speculation I just mean that even if oil crashes further it will still be a risky play.
