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RE: Jim Cramer Sees Bankruptcies In The Oil Industry
Or worse, when they start defaulting on the debt.
Either way, reality will set in at some point.
Posted via Steemleo
Or worse, when they start defaulting on the debt.
Either way, reality will set in at some point.
Posted via Steemleo
The defaults and credit downgrades have begun as of today........Petrol industry is dying, dividends have been slashed.
Posted via Steemleo
Dont believe the hype about Petrol....In the US alone, there are over 275M gas powered cars on the roads that are not going anywhere anytime soon. More than 70M were sold in the last 5 years, almost all gas powered. Hell, they are all still under financing.
The industry is going to die, but not anytime soon. It is going to take 15 years for it to all cycle out. China and Africa are actually going to be adding fossil fuel for the next few years. I dont see peak oil until about 2025-2027.
Posted via Steemleo