The following video is all you need to know about the current state of the oil patch. Forget the propaganda and the analyst notes. This much is certain: hedges placed in 2014 are rolling off. Banks will no longer comply with the empty promises that oil will soon streak to $100.
Only the strongest will survive.
Bear in mind, our friend Buddy here is on the ground, in the trenches, doing the numbers for the oil companies. All you need to know and understand about what’s around the bend for this industry can be found in his body language. Please ignore the cocaine addled hosts who get very excited for just about anything.
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He does look like he could use some prozac.
hi frog blog
Leave the kid alone.
Heh–yeah, those two chicks looked like they’re jacked up on coke, and Buddy’s tone is like he’s talking about a co-worker that just died. I’ve been through these boom bust oil cycles. It takes four to six years to get back to normal. That means 2018-2020 for all you hopefuls.
and the Nikkei just broke…
Buddy the transactional lawyer. What an interesting interview.
Death, spiral, Death, spiral, Death, spiral.
Well, it’s certainly possible that Buddy was fully invested in the erl sector, and his family and friends all recently disappeared from his life, telling him he’s a loser. Or it could be that he’s feeling subhuman, like a loser himself, no matter what his family and friends say. If so, he should seek some counseling. Don’t give up, Buddy. There are other things in life besides the stocked market.
So it’s possible that his body language is not necessarily related to the future state of the sector. In fact, if one has personal issues in an area, one may not see the future of that area realistically at all.
(Sigh)
Motherfracker
Bottom line is gasoline at $1.50 – $1.75 will create a boom to economy. The bottom is in on oil prices as far as below $33 to $35.