Exactly. It's different this time. For all the reasons you state. The defaults coming will blow the minds of the entire economy. And right when it gets as bleak as can be, watch the Sauds cut production and jack the prices sky high. This is going to be extremely devastating for not just US oil, but for the entire country.
Saudi's are backfiling any production losses elsewhere; that is all part of their plan. Keep the knife sawing away to kill as much U.S. production and off-shore competition as possible. We are witnessing a historical event that will have repercussions farrrrrrr more reaching than 99.9% of the populace realize.
and the heads are really beginning to roll now. TONS of U.S. oil companies are approaching their last gasp before they file bankruptcy. CEO's are running up LOC's and bilking the coffers for all they can steal. The consumers are gleefully filling their tanks completely oblivious that in 5 years they will themselves be paying $5 a gallon once the loss of exploratory production hits home. Do not be misled; Saudi's know EXACTLY what they are doing.
Simply another scheme by Demers to keep his fat salary rolling a little longer. Amazing he was able to con someone yet again. LOL
miscalculation? LMAO! Right! Tell that to the vast majority of U.S. oil producers who are ON THE VERGE OF BANKRUPTCY. Saudi's know EXACTLY what they're doing. We may not like their character or methods, but you are the fool if you don't see the big picture here.
They have single handedly wiped out almost all US producers and the ENTIRE GLOBAL OFFSHORE industry. Folks we are witnessing a historical event. The ultimate irony is how high oil will spike in the future due to this masterful massacre. But only a handful of US oil companies will still be alive when it comes.
What would you really expect? All the mom and pop investors have been killed and are gone. Penny stock message board for a soon to be penny stock. BTW good article on cnbc website about why we should be bailing out the US oil industry. A but satisfying to see them point out what I've been saying for over a year re: folks laughing at the pump now but not realizing we'll soon be at the mercy of OPEC soon for another generation. Some one gets it.
Lmfao! Everyone knows just from our writing styles we ain't the same cat. But hey don't stop banging ure head against the wall on my account!
They'll need all the money they can get to hire heavy security for the mob of ripped off investors. Dawned if Rockov wasn't the smart one. Mike Linn knew as well.