Is the Oil Industry Off a Cliff or Just in a Down Cycle?

http://insideclimatenews.org/news/04082015/oil-downturn-could-become-cliff-prices-low-exxon-chevron-climate-green-energy

A supply glut is prompting Exxon and Chevron to slash programs and dividends could be threatened as green energy and climate action gain momentum.By Elizabeth Douglass With the oil industry facing what could be its worst downturn in more than 45 years, the major companies are taking extraordinary, perhaps even desperate, measures to preserve their dividends. This is raising the question of whether the current price slump is just another in a long history of down business cycles, from which oil companies always emerge victoriously, or a sign of more deeply troubled times ahead.

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