It’s been a brutal few weeks for Royal Dutch Shell.
Sudden, sharp pain at the cash register.
“Fortunately, there’s little need to fret about households’ ability to carry all that debt.”
What happens when an entire industry, even at higher oil prices, can no longer service its debt?
“The number of half-empty office buildings in Alberta is projected to spike.”
Businesses get “crunched” in the Oil Patch, consumers lose it, indexes hit Financial Crisis levels.
Oil spills into the broader economy.
The oil price collapse is bad, but this is worse.
Traders are uniformly betting against it, a great contrarian sign. But wait….
At first, there was hope that only the oil patch would get hit.