Wow, I wonder what the peak oil folks are saying now? I wonder if Saudi Arabia is starting to think that a race to the bottom was not such a good idea? It is getting ugly out there. Coal producers were in trouble with the Nat Gas competition - now cheap oil has put them all on death watch. Any oil & gas or oil services company with material debt leverage has to wonder how long they can stand the pain. Banks and junk bond holders have to be wondering how much of this stink pile they will have to write down. Heck, even countries like Brazil, Russia, Venezuela and Mexico may be at risk of political unrest this summer.
You would think cheap energy would be good, right? There has to be a lot of people and companies benefiting from cheap energy. And this may be a glimpse into the future - when science unlocks ways to make energy very cheap, be in nuclear, solar or something altogether new.
I have no idea what to do. This would be a great time to go into the future and get a few newspapers (if they still exist) and bring them back.
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