You said: "Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. " WTI has reversed the leading indicator, two short years ago WTI was a complete slave (or bitch) to Brent…but that is what happens when the chickens come home to roost.
"Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel. "
Why wouldn't it? A contrivance was created, it broke and now the consequences have come home to roost.
That spells more pain for the energy sector.
Pain, that is strange, why not just say its a cycle, more akin to coitus interruptus.
Many companies have already slashed spending and culled their payrolls, but the total number of job losses continues to climb.
Yes, this is true, do you think that those who made bank learning about particulate oil from shale are not employable again? if not here, somewhere else. Argentina is about to unlock massive oil deposits of particulate oil from shale, as Mexico could do if its bandwidth was inclined. Not many argentines walking about with knowledge of particulate oil….our job losses make for increasing opportunity for those with bandwidth to understand, the game is moving…..again….Aramco has already advertised for Shale oil workers….dont feel bad for them, if they paid attention, they can parlay their awareness, regarding the legacy oil folks, not so much, most have great pensions and benefits so retiring is good.
Some of our Bakken heroes just need to adjust to locations about to boom.
Oil is not going away, but demand will continually shrink for transportation, its biggest application. |
