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It Wasn't Just the Pandemic: Oil's Terrible, No Good, Very Bad Year

Amy Myers Jaffe speaks with NPR about the state of the oil industry and what to expect in 2021.

It's no surprise that the oil industry had a terrible, horrible, no good, very bad year. Oil powers the vast majority of the global transportation system, and the pandemic froze most of the world's population in place.

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Amy Myers Jaffe, managing director at the Climate Policy Lab at the Fletcher School at Tufts University, says these decisions were not triggered by the pandemic.

"All these things I believe would still have happened," she says. "They just intensified because of the collapse in oil demand, but all of those trends were coming."

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