This oil crash is not like the others

The coronavirus lockdown has dealt a savage blow to Big Oil, at a time fears of climate breakdown call the whole basis of our energy system into question. 

Shell cuts its dividend for the first time since the second world war. Oil prices turn negative in the US. Supertankers of unwanted fuel stack up in the Singapore Strait.

The Covid-19 pandemic has scared the global economy to a standstill, slashing demand for the hydrocarbons that to this day are its main source of energy.

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