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To: nickcarraway

Ultimately counterproductive . Shale producers going into bankruptcy just means that those assets will transfer from weaker financial hands into stronger financial hands. And when the period of consolidation is over — the cure for low commodity prices is lower commodity prices— Saudi Arabia still has the same problem they started out with.


53 posted on 04/01/2020 4:34:28 PM PDT by ameribbean expat (Attention! All persons having the corona virus...please report to the nearest IRS office. Thank you.)
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To: ameribbean expat

Right. They tried this before and all that ends up happening is bankruptcies followed by stronger companies buying up the assets. I drove through Hobbs a few weeks ago and there were several new hotels and restaurants going up. Some banks are going to take it in the shorts as are apartment and home builders.


71 posted on 04/01/2020 5:43:00 PM PDT by crusty old prospector
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