Yes....too me it’s quite shocking that so many are shocked at the current circumstances...
Simply amazing that people in the industry didn’t see this coming, and plan appropriately.
They probably saw some variation of it coming, but they didn’t think it would run this hard. They probably figured the prices would fall slower giving other companies more time to go bankrupt first thus keeping the prices from dropping so low it would affect them.
Shut up, now get back there and turn those damn machines back on!!!! /S
Many old timers have seen it coming and have been husbanding their cash just for this type of situation. You do not know how many times I have heard from the young whipper snappers during the last 5 years that “this time is different”. Now, let’s get out there and buy some tulip futures and make a fortune!!!! LOL
The planning for lower oil prices is called hedging, which is as I understand it, contracting suboptimal set prices for the contingency of falling oil prices. The companies with weaker balance sheets will fall, but the stronger will survive.