This Energy Dividend Stock Will Hold Up No Matter the Market Conditions
Despite energy company employees being designated "essential critical infrastructure workers" during the COVID-19 pandemic, the collapse of economic activity made their employment superfluous in many cases. U.S. gross domestic product (GDP), an economic measure of everything produced in the country, suffered the greatest contraction ever recorded with a 32.9% plunge.
With hardly anyone working, there just wasn't much need to use oil and gas, and at one point U.S. crude prices actually turned negative. While the worst predictions of hundreds of oil companies going bankrupt fortunately never materialized, it did help reveal which energy producers were the most financially fit.
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Source Fool.com
