It is difficult to predict the future—especially in a generally volatile industry that is undergoing a significant transition. In April 2020, oil prices hovered around $20 a barrel and memorably dropped below zero for a single day as supply peaked and demand cratered during COVID-19 lockdowns.

Now, barely two years later, we have a different political administration with a vastly different energy policy mandate. Yet oil and gas prices are much closer to their historical highs than their unprecedented lows. Although it is difficult to say what even the next few months will bring in the energy industry, it is clear that the industry has been flipped upside-down and is undergoing a significant transition. In other words, buckle up for a wild ride!