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.
Oil Drilling Cut Fastest Since Stock Market Crash by Wolf Richter • Jan 23, 2015 • 2 Comments US oil rig count swoons.
This Chart Shows Why the Oil Bust Will Last by Wolf Richter • Jan 22, 2015 • 5 Comments Soaring US crude oil inventories.
Why the Great American Oil Bust Will Be Long & Painful by Wolf Richter • Jan 22, 2015 • 11 Comments BHP Billiton, perhaps unwittingly, explains the irony: despite oil glut, collapsed prices, layoffs… US oil production will continue to soar.
Recession in Tar-Sands Rich Alberta? by Oilprice.com • Jan 21, 2015 • Comments Off on Recession in Tar-Sands Rich Alberta? The Canadian Province hit hard by low oil prices.
Manufacturing Hit by Oil-Price Plunge? Southeast Worst Since Financial Crisis by Wolf Richter • Jan 21, 2015 • 10 Comments The Atlanta Fed begins to fret.
