the point of peak oil well earlier we asked claudia comfort energy expert at the german institute for economic research if the industry can continue in its current form. i mean it's very difficult that they are continuing in this current form they need to structure they need to restructure and also invest into alternatives to oil because the oil era is ending now with the corner crisis even faster than expected so the oil demand might might be low only because the flights decreasing the economic stimulus program in many o.e.c.d. countries are fostering cleaner technologies like electric mobility and also the heating system which i replaced and the insulation is says boosted by this kind of program so the oil demand might be lower so the kompany need to change and also diversify also to more renewable energy and also change their supply structure now they say necessity is the mother of invention and that's something many businesses are finding out during the coronavirus crisis germany's small wine makers are having a tough time as much of their output is bought by tourists who come to visit the solution

are any bets on for more let's find out from claudia kefford energy expert of the german institute for economic research good morning cloudy nice to see you what it comes that morning when it comes to saudi aramco there it's problems are they strictly a result of the virus hitting them bad for oil or do they predate the crisis. well i would say it's predating the crisis because we already saw before the corona crisis extend that there are severe difficulties not only in saudi arabia but especially to saudi aramco so the stakeholders are basically domestic they are geo political recess a corruption and a lot of uncertainty so even now with a core and a crisis the problems are increasing all the challenging the challenges are increasing so we now are facing a difficult situation ok it's a challenge is not just for oil companies like around co the entire oil base saudi arabian autonomy is in a position that was absolutely unimaginable last quarter can riyadh get out of this crisis. well only if they do a lot off reforms and only if they are changing also their business models for the whole country because

german i.f.o. institute for economic research, half of all german firms-- coving as many as ten million german workers-- are currentlutilizing kurzabeit. >> to do something as structurally comprehensive as the germans would require a lot of change in our attitudes. you can never look at a model and buy it and take it home. it won't work that way. you need a certain culture to do it, but there's a lot we could learn from it. >> reporter: do you anticipate employment policy will change in the u.s. in response to this crisis? >> i think at some point it absolutely has to. we have too many people who have literally no protections at all. it's clear to me that we need a new way to think about work and how we order it. >> i can see from firsthand experience now, you know, not as a journalist, but as someone, you know, representing my coworkers, why it's so difficult to promote these programs in the us. they're just-- it's easier to lay people off. there's not a culture of spreading around the pain to protect people in these times of temporary economic crunches. we're just going to try to survive this round

marcel fratzscher is president of the german institute for economic research thank you very much forarter, that really only covers the period up that really only covers the period up to the point where germany was just about starting to go into a serious lockdown. assess those figures so far and look ahead, if you would to what might happen next? the german economy is affected just as most other economies are. we expect somewhere between i would say, 7% and 15% contraction for the full year 2020, and of course the second quarter, april through to june, is experiencing a much deeper contraction. the big problem is we don't really know, we cannot give any reliable forecast or projection what the economy will do and i think what the economy will do and i think what we also need to realise, the risks are huge, we don't know, will a second wave or third wave come? how hard will it hit the economy? will again restrictions be necessary? this uncertainty means that many companies are not willing to invest if they can invest at all and also consumers, and workers, are very reluctant to go out