Prepping for Bankruptcy, PG&E Secures $5.5 Billion in “Debtor-in-Possession” Financing. What is “DIP” Financing? by Wolf Richter • Jan 22, 2019 • 77 Comments Here’s how a soon-to-be bankrupt company that’ll default on all its debts can still borrow $5.5 billion.
Huge Backlog Could Trigger New Wave Of Shale Oil by Nick Cunningham • Jan 21, 2019 • 22 Comments Just what the crude oil market needs.
Bankruptcy Next, PG&E Says. Shares Down 90% in 15 Months. From “Investment Grade” to “Default” in Three Weeks? by Wolf Richter • Jan 14, 2019 • 89 Comments California’s rate payers & taxpayers likely on the hook, as we know from PG&E’s first bankruptcy in 2001.
Mexico Kicks Off War on its Vast Black Market for Oil by Don Quijones • Jan 1, 2019 • 19 Comments “It’s not easy to distribute and sell the pilfered contents of 600 pipelines each and every day.”
US Natural Gas Plunges, Unwinds Spike that Blew Up Hedge Fund by Wolf Richter • Dec 17, 2018 • 30 Comments After the blood has been let, the feeding frenzy subsides, which is also brutal.
The U.S. Oil Industry’s Dirty Little Secret by Nick Cunningham • Dec 13, 2018 • 65 Comments Because greater fuel economy for cars is toxic for the oil industry.
Parker Drilling Bankruptcy Kicks off “Oil Bust 2” by Wolf Richter • Dec 12, 2018 • 26 Comments But look how the bonds got manipulated up 24% in one minute at the close.
Troubled Pemex Announces a Big Boost by Don Quijones • Nov 30, 2018 • 14 Comments With perfect timing as the new government embarks on restructuring Mexico’s oil industry.
What’s Behind the US-Saudi Nuclear Mega-Deal? by Leonard Hyman and Willian Tilles • Nov 28, 2018 • 77 Comments Up to 16 nuclear power plants for civilian purposes? Really?
How US Oil Booms & Busts Hit Industrial Production by Wolf Richter • Nov 16, 2018 • 17 Comments Fueled by cheap money and by dashed hopes of high oil prices.
