After decades of relying on imported oil, the U.S. achieved the unthinkable and became the world’s largest producer. Production has doubled over the past decade, and in February reached its highest level ever – thirteen million barrels a day. But as it turns out, all of that overabundance has led to a different kind of oil crisis. “We’re producing more oil and gas than ever, and this industry’s stocks are tanking,” says Amy Harder, energy reporter for Axios. Meanwhile, renewables are experiencing unprecedented growth. What will be the lasting impact of the COVID-19 recession? What is the future of energy in a post-pandemic world?
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