PENN WEST PETROLEUM LTD. T.PWT

Energy Oil & Gas E&P

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."

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Post by makedonkaon Jun 25, 2017 4:00pm

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Post# 26402849

Goldman on the Next Recession

"A few brief excerpts from a note by Goldman Sachs economists: The Next Recession: Lessons from History

With the current expansion already the third longest in US history, investors have begun to look ahead to the next recession. ... we find that many pre-WW2 recessions originated in the financial sector, many post-WW2 recessions were caused by oil shocks and monetary policy tightening, and sentiment-driven swings in borrowing and investment led to recessions in both eras. ...

Some common contributors to past recessions look less worrisome today. ... the dominant cause of postwar US recessions—rapid rate hikes in response to high inflation, often boosted by oil shocks—is less threatening today due to the anchoring of inflation expectations and the rise of shale.
...
[Our model] now estimates a 1/4 chance of recession over the next two years, somewhat below the unconditional probability over two years of 1/3 since 1980.

CR note: Some day there will be another recession, but I don't see signs of a recession in the next year or more."

https://www.calculatedriskblog.com/2017/06/goldman-on-next-recession.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29