, Columnist
Covid-19 Is Big Oil’s Asteroid Strike
The coronavirus is hastening change at the oil majors. Those that can't transform fast enough will go the way of Tyrannosaurus Rex.
Photographer: Elvis Burakcic/AFP via Getty Images
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Covid-19 may do for Big Oil what the Chicxulub asteroid did for the dinosaurs when it struck Earth 66 million years ago.
Much like the “terrible lizards,” Big Oil was already in decline before the novel coronavirus hit. The world in which they thrived is changing around them and they face multiple threats to their future health. But the outbreak’s impact has accelerated the process.