RE:RE:Never seen this in my life...Russia and SA can ride this out, not sure about the others... SA brought it down to $26 years ago, they'll do it again imho, and might even do worse, just to prove a point it seems...
This will only accelerate the shale slowdown, but shale will still be there in the end, won't dissapear...
Had the U.S not been producing at such a high rate despite the price, this wouldn't have happened... I understand why Russia did not want to cede market share to keep shale afloat, but for SA to burn the whole house down? I have a feeling it will be re-run of 2014-2016 imho, but hopefully won't last as long given access to capital has dried up in the U.S...
Who knows, maybe Trump will save Texas with subsidies the same way he saved the farmers? Not so sure though, it seems they'd rather starve, lose their jobs/homes than vote for a Democrat...
Wow.