It’s over oilFAGS. There is nothing left to discuss. Your entire industry is in ruins, tatters even. All of Saudi Arabia is now a wasteland. Whole oil fields will soon become sand pits for people to make sand castles or source for materials for glass jars. People who’ve lost their faces will store their teeth in said jars.
I have a keen mind for these sort of disasters and know a snow ball rolling downhill when I see one.
The high yield stresses are intertwined with the fate of WTI — which is shockingly lower by more than 5.5%. Normally, I’d suggest pause after a move like this. Truth is, it does not matter what WTI does tomorrow. The damage has already been done. The prices have gone down low enough to stop production and cause extreme stress on balance sheets.
I averaged up in DRIP, bringing my basis up to $15.84.
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