In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Naturally many investors will wonder if this horror story makes Apache a value investment. After all it owns a lot of oil, which puts it in a good position if prices ever recover. All that natural gas is potentially valuable too with the United States exporting LNG and natural gas becoming the fuel of choice in power plants.
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The oil industry will survive the coming of Hyperloop and electric cars; but it will look nothing like the one we have known. Instead it will be smaller and only a few companies in it will make money. Smart investors will stay out of oil for the foreseeable future, unless they are looking for something to short.
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