Goldman: ‘$35 Crude is Goldilocks Perfect’

Perfect for whom, exactly?

In a report out tonight, the G men feel $35 crude is the perfect price to bankrupt all of the marginal players to hell, causing rapid and large scale layoffs in America, which in turn will permit the Saudis to continue pumping at their heart’s delight–effectively paving the way for a sustainable 2017 recovery–once America is out of the way.

“We view our second-quarter 2016 oil outlook as an idealistic Goldilocks scenario,” the analysts wrote in the report. “We would use volatility to add to positions of shale productivity winners and the next rung down.”

Goldman said it favors U.S. producers EOG Resources Inc., Diamondback Energy Inc. and PDC Energy Inc. as well as stocks in “the next rung down” — Hess Corp., Cenovus Energy Inc., Anadarko Petroleum Corp., Encana Corp., Continental Resources Inc. and Whiting Petroleum Corp. While the bank predicts WTI crude prices will average $35 a barrel in the second quarter, it forecasts $38 for 2016 and $57.50 for next year.

Funny thing is, I doubt the blockheaded analyst who uttered these words put 2 and 2 together, as they’re always thinking macro, global, views. I understand it’s their job and they’re simply making projections. That’s all fine and dandy. But is anyone discussing the ramifications of these fucking bubbles coming and going out of the American economy, which is causing massive disruptions in the American work force?

We see a lot of idiot jobs being created in this country, replacing the one shining star in American industry–oil and gas. By 2017, effectively, those jobs will be exported overseas too, as American production halts and we start importing foreign oil again.

Wonderful.