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[QUOTE]Originally posted by CashCowMoo: [QB] [QUOTE]Originally posted by Happy Valley: [qb] [QUOTE]Originally posted by IWISHIHAD: [qb] Originally Posted By Glassman: the 'funny" thing is that i feel like the low price of gasoline and deisel is going to fire up the economy alot. the problem for he stock market IMO is that the banks have run it up with all their free cash from the FED and they can't keep it going without retail support which ain't showing up until we have about 18 months of cheap gasoline. after that, people will agaqin have some cash to invest/trade with... but not before.. ------------------------------------------------- The oil companies and our state and federal goverment are ripping us off. How does oil drop to where it is and still see $3.50- 4.00 a gallon for gas. Gas should be under $1.50 now,if you calculate this by the reason they used to raise gas prices in the first place. They always have an excuse why it is high. What a monopoly a lot of exclusive people are in on, a paying slot machine that never stops paying big dividends. - [/qb][/QUOTE]I'm not sure how many of these oil companies will survive 18 more months of current prices. This entire sector is leveraged up to their eyeballs with the debt that fueled the shale boom, the amount of debt these companies carry is mind blowing. Once hedges expire, servicing this debt is going to become next to impossible for many of them. U.S. fracking gave us low energy prices and they can take it away just as quickly. OPEC would love nothing more than to watch this space crash and burn so they can get on with business as usual. You think it's a monopoly now, wait until the majors and OPEC own it all... [/qb][/QUOTE]The bankruptcies have already started. A trickle of them, but 1Q next year and into spring is going to be ugly. Lots of crude contracts end, and massive debt servicing really starts the squeeze for the shale producers. Denver business journal has good coverage of that in their energy section. Mostly the rocky mountain production but also shale players who are based or somehow tied to Denver. [/QB][/QUOTE]
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