I once thought the same, but was dead wrong. Saudi's are back-filling any US production loss and taking complete dominant control of their increasing market share. Everytime the "experts" claim the Saudi's are pumping at full capacity they just open the spigots even wider. And will continue to do so until higher cost US producers are dead and buried.
Sauds will keep the spigots wide open and drive prices to $20 or even lower to behead any U.S. producers still twitching. Then they will spike the price by cutting production. U.S. players won't find anyone willing to finance their ventures knowing full well the Sauds could repeat the same deadly game anytime the U.S. pops their head up and tries to ramp up higher cost production. End result- U.S. at the complete mercy of Middle East for oil for decades to come. And this is the master plan of the Saudi's.
take care ochs. A shame good guys get screwed by trusting the energy patch; we got caught up in a nasty nasty Saudi killing field. Like I read the other day; the Saudi's may be shooting themselves in the foot....but they're also shooting everyone else in the head. At point blank range.
Saudis will keep the pumps full throttle and drown the globe with oil; driving prices to $10-$20 to completely behead any U.S. producers still twitching. Then they will spike the price. U.S. lenders will be wayyyyyy to gun-shy to re-enter the game knowing the Sauds could play this game again any time they wish. And so the U.S. will be at the mercy of the Middle East oil for decades. A devious but brilliant strategy.
You're partially right. Oil will wane over time, but never go completely away. Too many of our everyday items are made with petro ingredients. But all the drillers and frackers are toast. This is the Saudi plan after all. They will backfill any loss of U.S. production and resume their king of the hill status. And the U.S. will be stuffing expensive solar/wind down the throats of the populace until they choke.
I think we've put that to rest. That said, once they cancel the common and reissue new shares to bond holders perhaps it could see some of those numbers.......but only after a wipe-out of all current unit holders. I tried telling you guys the Saudi's are committed to putting the vast majority of competitors out of business. Many scoffed and are now paying a dreadful price.
Course the equity is already wiped out so I doubt there would be a debt for equity swap for junk rigs. So management will continue to drain the coffers until the company inevitably files. Will this make 3 companies Stilley will have been at the helm that went bankrupt? My gosh who in their right mind would hire this moron...even as the mail room guy??
Mecca and prayer rugs aside (that was hilarious even though completely racist) you still amazingly can't get your brain to work and process the fact that OPEC is winning this game. They are back-filling any US production cuts and growing their market share while driving US producers into a mass grave. Ruthless but brilliant strategy. Plain and simple.
Don't waste your time. He is so far gone with the liberal kool-aid that he is beyond hope. He will still be screaming it's all a right wing conspiracy even as a radical Islamist has a sword singing towards his neck.
It won't matter. BO is so blinded now with his majestic imperial ideology that he cannot be objective about ANYTHING contrary to his imperial "wisdom"; even if it is blatantly obvious to everyone else. The man is suffering from mental illness.
True. Probably clinging to hope that some miracle will raise oil back to $85 in a few months. Reminds me of those that voted for Hope and Change. How's that all working out? Lol