Wall Street Has a Dream About the Price of Oil by Wolf Richter • Feb 9, 2015 • 8 Comments Banks must have a V-shaped recovery in place by late 2015, or else.
Oil Rig Count Plunges 29% from Peak. Halfway to Bottom? by Wolf Richter • Feb 6, 2015 • 2 Comments Wall Street shuts off the spigot for junk-rated drillers.
Oil Glut Gets Worse – Production, Inventories Soar to Record by Wolf Richter • Feb 4, 2015 • 9 Comments “Oil markets rarely exhibit V-shaped recoveries.”
‘Vulture’ Investors Descend on Oil Patch by Oilprice.com • Feb 4, 2015 • Comments Off on ‘Vulture’ Investors Descend on Oil Patch PE firms offer credit to teetering oil companies at exorbitant rates, with an eye on the assets in case of default.
Bad News For World Economy That No One Wants To Hear by Oilprice.com • Feb 2, 2015 • 3 Comments Commodities and bonds tell a contrarian story.
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk by Wolf Richter • Feb 1, 2015 • 28 Comments What ratings agency Fitch and the Bank of Canada had warned about has come to pass.
Oil Price Soars, Rig Count Plunges Worst Ever, But Bloodletting Just Beginning by Wolf Richter • Jan 30, 2015 • 8 Comments Oil companies are dead-serious about slashing costs. A matter of survival.
“Oil Capital of California” Declares Fiscal Emergency by Wolf Richter • Jan 29, 2015 • 3 Comments Oil bust, sins committed & false promises made in good times sink Kern Country.
Alaska’s State Budget Collapses by 50% by Oilprice.com • Jan 28, 2015 • 2 Comments Alaska gets 90% of its budget from oil taxes, and now that budget is $3.5 billion short.
Debt and Fracking at Low Oil & Gas Prices: Wave of Defaults, “Outright Liquidations” Next by Wolf Richter • Jan 25, 2015 • 3 Comments Time and money are running out for junk-rated energy companies.
