Posted on 01/11/2016 5:37:14 PM PST by Citizen Zed
Crude-oil prices plunged more than 5% on Monday to trade near $30 a barrel, making the specter of bankruptcy ever more likely for a significant chunk of the U.S. oil industry.
Three major investment banks - Morgan Stanley, Goldman Sachs Group Inc. and Citigroup Inc. - now expect the price of oil to crash through the $30 threshhold and into $20 territory in short order as a result of China's slowdown
(Excerpt) Read more at wsj.com ...
For Colonel Putin, also.
When it becomes more expensive to pump it than what they get in return they’ll quit pumping. Then .....????
odd even then mad max american style
Gas price nirvana, we've found the lowest price point possible. Hurray!.
Then, the supply will not be there due to the BKs. Demand will increase and exceed supply, and the price will spike.
what’s it gonna add to the laughable debt when we bail the banks that lent and the oil companies that borrowed, out.
Speaking of which. I visited the site near Silverton just outside of Broken Hill where that refinery was set up for the movie. There’s a nice restaurant in Silverton and they had a scrapbook of the actors there. A great shot was Mel Gibson playing cards with that mean motorcycle bloke as well as drinking beer together. They also had a pet wallaby bouncing around the small court area.
How fun to see that
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