When the heck will the bloodletting stop?
Not the best way to face the oil bust.
A “significant event.”
New orders, shipments at “lowest reading since June 2009.”
But when the heck will production finally decline?
It will get much worse.
Never before has drilling for oil collapsed this far this fast.
“Not pushing the panic button by any means” – Texas Department of Banking.
Banks must have a V-shaped recovery in place by late 2015, or else.
Wall Street shuts off the spigot for junk-rated drillers.