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A Glimpse Of Things To Come: Bankrupt Shale Producers “Can’t Give Their Assets Away”
A Glimpse Of Things To Come: Bankrupt Shale Producers “Can’t Give Their Assets Away” Over the course of the last several weeks, we’ve spent quite a bit of time sounding the alarm bells on America’s growing list of bankrupt oil and gas drillers. We’ve also been keen to point out that the long list of […]
Oil Price Crash: How low will the oil price go?
Oil Price Crash: How low will the oil price go? I have been following the oil price crash since it began in late 2014, providing annual forecast scenarios and monthly vital statistics updates. There has recently been an acceleration in activity and news, and as the oil price has continued its fall to below $30, […]
Canada Rebels against the Destruction of the Loonie
Canada Rebels against the Destruction of the Loonie The fear of “currency instability.” “Without precedent” — that’s what National Bank of Canada’s chief economist Stéfane Marion called the wholesale destruction of the loonie. The Canadian dollar is in a tailspin. Rarely has it tumbled so far so fast, and against so many currencies. The steepness of […]
The great condensate con: Is the oil glut just about oil?
The great condensate con: Is the oil glut just about oil? My favorite Texas oilman Jeffrey Brown is at it again. In a recent email he’s pointing out to everyone who will listen that the supposed oversupply of crude oil isn’t quite what it seems. Yes, there is a large overhang of excess oil in […]
Negative Oil Prices Arrive: Koch Brothers’ Refinery “Pays” -$0.50 For North Dakota Crude
Negative Oil Prices Arrive: Koch Brothers’ Refinery “Pays” -$0.50 For North Dakota Crude Do you have some extra space in your garage or attic? Or perhaps you own an oil tanker you aren’t currently using. Or maybe you have a storage unit that’s got a little extra room next to an old mattress and box […]
The Financial Apocalypse Accelerates As Middle East Stocks Crash To Begin The Week
The Financial Apocalypse Accelerates As Middle East Stocks Crash To Begin The Week It looks like it is going to be another chaotic week for global financial markets. On Sunday, news that Iran plans to dramatically ramp up oil production sent stocks plunging all across the Middle East. Stocks in Kuwait were down 3.1 percent, […]
Iran Unleashes Oil Flood, Will Quintuple Crude Revenue In 2016
Iran Unleashes Oil Flood, Will Quintuple Crude Revenue In 2016 On Saturday, Iran marked what President Hassan Rouhani called a “golden page” in the country’s history when the IAEA ruled that Tehran had stuck to its commitments under last year’s nuclear accord. Moments after the ruling was handed down, the US and the EU each […]
Why We May Never See $100-a-Barrel Oil Again
Why We May Never See $100-a-Barrel Oil Again ‘Race for What’s Left’ author surveys geopolitical fortunes in aftermath of a pricequake. Pricequake: Recent turmoil could spell doom — not just for ‘tough oil’ projects now underway — but for some over-extended companies (and governments) that own them. Oil barrel photo via Shutterstock. As 2015 drew […]
Norway Pushes Panic Button: “We’re In A Crisis Now, We Can’t Deny That”
Norway Pushes Panic Button: “We’re In A Crisis Now, We Can’t Deny That” We’ve spent quite a bit of time documenting Norway’s precarious balancing act in the face of slumping crude prices. On the one hand, falling crude puts pressure on the krone which essentially allows the Norges Bank to compete in the regional currency […]
Alberta Freezes Government Salaries As Canada’s Oil Patch Enters Second Year Of Recession
Alberta Freezes Government Salaries As Canada’s Oil Patch Enters Second Year Of Recession On Wednesday, we documented the astonishing prices beleaguered Canadians are now forced to pay for groceries thanks to the plunging loonie. Oil’s inexorable decline has the Canadian dollar in a veritable tailspin and because Canada imports the vast majority of its fresh food, prices […]
Last Bubble Standing
Last Bubble Standing EM debt bubble… emaciated, FX Carry… crucified, Crude…crushed, High yield bonds… burst, Chinese equities… blown, Trannies… trounced, Small Caps… slammed, Biotechs… busted, and FANGs finally FUBAR!But there is one big (very big) bubble left in the world that no one is talking about, and a rather large liquidity-busting pin beckons… In May 2015 we […]
Canadians Panic As Food Prices Soar On Collapsing Currency
Canadians Panic As Food Prices Soar On Collapsing Currency It was just yesterday when we documented the continuing slide in the loonie, which is suffering mightily in the face of oil’s inexorable decline. As regular readers are no doubt acutely aware, Canada is struggling through a dramatic economic adjustment, especially in Alberta, the heart of the country’s oil patch. […]
Albert Edwards Hits Peak Pessimism: “S&P Will Fall 75%”, Global Recession Looms
Albert Edwards Hits Peak Pessimism: “S&P Will Fall 75%”, Global Recession Looms 2016 has thus far been a year characterized by remarkable bouts of harrowing volatility as the ongoing devaluation of the yuan, plunging crude prices, and geopolitical uncertainty wreak havoc on fragile, inflated markets. With asset prices still sitting near nosebleed levels after seven […]
