Tuesday, February 09, 2016

oil companies are gonna hurt, as long as OPEC can hold out and make them suffer, now that oil is around 30 a barrel, even the risk insurance the companies bought is going to go bankrupt

http://www.bloomberg.com/news/articles/2016-02-09/oil-drillers-exposed-in-three-way-hedges-as-crude-dips-below-30

Expect that in no time at all, big oil corporations will ask for a govt bail out. Weren't they regulated by the govt, and to get off that choke chain, they claimed how marvelous they could be if independent? The gulf spill from Deep Horizon says nope. 

2 comments:

  1. i'm suprised they haven't "shut down for scheduled maintenance" a couple of refineries to get the prices back up.

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  2. True. thats what they did to jack the price some more when it was already $4 a gallon.

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