RE:Break even costs and OIL
so after a takedown on gold, precious and base metals, oil was next inline for the beating, next up - nat gas as sympathy sell off.
Who cares about break even cost - this is the same argument that miners have said in the past as well - writedowns will occur, energy stocks will continue its sell off, some of these companies will close up shop etc etc. These oil companies will have to adjust to the new reality, - 50 oil, just like gold has been taken down from 1900 to 1100 for the past 4 years - 50 oil may be a slow trade down for the next couple of years.