US oil drillers headed for imminent financial collapse

[singular_me]

enjoy low gas prices while it lasts... dominoes stand ready to fall. States are too losing oil tax driven revenues. Then who is next?
-----------------
US oil drillers headed for imminent financial collapse due to suppressed oil prices
28th December 2015

‘The collapse in the price of oil and gasoline due to major increases in global supply has been a financial boon to tens of millions of cash-strapped Americans still struggling to earn a living in a stagnant economy.

But while consumers are breathing a sigh of relief, many oil producers are increasingly worried that they won’t survive the nosedive in prices, since many of their operations were launched with the belief that prices would remain above a certain level.

As reported by Bloomberg News, a number of oil drilling firms are likely to go under in the second quarter of 2015 if there remains a glut of oil worldwide, which is driving prices down.’

Bloomberg News reported further:

The amount of projected 2015 oil and natural gas output a company has hedged is a strong indicator of whether they'll be able to pay their bills, he said. Another important metric is how much is drawn on revolver loans, Young said.

"I'm telling them they really have to keep an eye on this stuff and you've got to be the squeaky wheel," said Young. "You've got to start filing liens if you see a company starting to go down."

As prices continued to fall, Young said he could see the future.

"When I saw WTI hit $65, I thought we're going to be really busy with restructurings," Young said. "When it hit the $40s, I knew we were looking at outright liquidations."

more: http://www.naturalnews.com/052434_oil_prices_financial_collapse_industry.html #ixzz3vgJg5y6g

Oil Drillers ‘Going to Die’ in 2Q on Crude Price Swoon
Oil drillers will begin collapsing under the weight of lower crude prices during the second quarter and energy explorers who employ them will shortly follow, according to Conway Mackenzie Inc., the largest U.S. restructuring firm.

Companies that drill wells and manage fields on behalf of oil producers will be the first to fall after the benchmark American crude, West Texas Intermediate, lost 57 percent of its value in seven months, said John T. Young, whose firm led the city of Detroit through its 2013 bankruptcy.

Oil companies have slashed thousands of jobs, delayed billions of dollars in projects and dropped or scaled back expansion plans in response to the prolonged rout in crude prices. For oilfield service providers that test wells and line the holes with steel and cement, the impact of price reductions forced upon them by explorers will start to pinch hard during the second quarter, Young said Thursday.

“The second quarter is going to be devastating for the service companies,” Young said in a telephone interview from Houston. “There are certainly companies that are going to die.”
http://www.bloomberg.com/news/articles/2015-01-22/oil-drillers-going-to-die-in-2q-on-crude-price-swoon

[mick silver]

they stop drilling some time ago , didn't you get the memo

[singular_me]

they stop drilling some time ago , didn't you get the memo


I read the article mentioning 2nd quarter 2015, which is behind us... but how about discussing the domino theory, which is the goal of the thread.

[palani]

Frankly

At any instant you are falling toward the center of the earth at an accelerated rate of 9.8 meters per second squared.

This is analogous to the state of commerce today.

Everyone is accelerating toward bankruptcy ... but the target keeps moving.

[woodman]

Frankly

At any instant you are falling toward the center of the earth at an accelerated rate of 9.8 meters per second squared.

This is analogous to the state of commerce today.

Everyone is accelerating toward bankruptcy ... but the target keeps moving.

Creative analogy.

[PatColo]

Frankly

At any instant you are falling toward the center of the earth at an accelerated rate of 9.8 meters per second squared.

This is analogous to the state of commerce today.

Everyone is accelerating toward bankruptcy ... but the target keeps moving.


I'm a "recovering peak oiler"; converted to "petroleum agnosticism" some years ago already. The Big Oil CEOs, directors, are all in the "right secret societies"; in the know about the suppressed alt energy secrets and more.

I've lived the last decade+ (though its waned gradually the recent 5-7 years) truly believing "collapse/doom is always 6-8 months away." What a dark, pessimistic day to day reality! It's been a "slow burn" as C.A. Fitts has long predicted. Anyway, applying my hard-learned lessons from living through that to the headline of this thread; I have to guess there won't be a ("sudden") financial collapse of Big Oil. Too much I know I don't know to say why; I just project forward that it will continue to be a "slow burn."


Donald Rumsfeld Unknown Unknowns ! (https://www.youtube.com/watch?v=GiPe1OiKQuk)
https://www.youtube.com/watch?v=GiPe1OiKQuk


I'll throw this vid in too :D; was linked to the one above... so nice to be rid of Dim Son:
Best of the Bushisms (https://www.youtube.com/watch?v=Be6tunbRcs8)

https://www.youtube.com/watch?v=Be6tunbRcs8

[palani]

Oil is cheap to drive sustainable energy (wind, alcohol, waves, solar) into recognizing that nothing can compete with oil pulled from the ground for free (exploration and drilling expenses aside).

[palani]

Creative analogy.
The flat earthers will simply not believe that they are constantly falling into the center of the earth. They likely don't believe either that the Earth is in the process of falling into the sun.

Reality can be tough to deal with.

Functionally anyone who handles fiat money is a bankrupt in waiting. They are constantly in denial that the money system can be the cause of their problems so they tend to look elsewhere for a reason. Sometimes the simplest answer is the best.

[PatColo]

The flat earthers will simply not believe that they are constantly falling into the center of the earth. They likely don't believe either that the Earth is in the process of falling into the sun.

Reality can be tough to deal with.

Functionally anyone who handles fiat money is a bankrupt in waiting. They are constantly in denial that the money system can be the cause of their problems so they tend to look elsewhere for a reason. Sometimes the simplest answer is the best.

Red Ice, haven't listened, first free hour:

Robert Otey - Unscientific Cosmogony: Gravity, Quantum Physics & Einstein - Hour 1 (http://www.redicecreations.com/radio/2015/12/RIR-151230.php)


Robert Otey - Unscientific Cosmogony: Gravity, Quantum Physics & Einstein - Hour 1
December 30, 2015

Robert Otey has spent the past 25 years doing research into alternative Cosmology. He is behind the YouTube channel, 77Gslinger, where he has close to 700 videos relating to the Electric Universe, Sacred Geometry, Cymatics, and the work of Walter Russell, Viktor Schauberger, DB Larson, Nikola Tesla and others. Otey is the author of two books, “Free Energy and Free Thinking” and “Gravity is a Myth and Does Not Exist; Electricity is the Only Force in the Universe.”

Robert begins with an overview of the convincing evidence he has discovered that contradicts and debunks the flawed theoretical gravitation based/big bang cosmogony taught in academia. He states that his enormous body of work proves this is in fact an electric universe based upon the foundations of sacred geometry. He gives credit to the revolutionary free energy discoveries made by Schauberger, Tesla, Moray, and others who discarded the false models of explosion based, fuel sucking technology upheld to render astronomical profits for the world’s energy barons, war mongers and central bankers. Robert explains the main proofs behind the electric universe model and how these elements produce the effect we know as gravity. We discuss the model of magnetism, the field of quantum physics, and the nuclear atom theory. Robert talks about the two main foundations of quantum mechanics, The double-slit experiment and the Heisenberg’s uncertainty principle. We look at the idea of relativism in science and the deceptive language of mathematics, along with the history of Einstein and his manufactured science. Further, we consider the birth of the Nobel Prize scene and the corresponding rise of National Socialism in Germany.

In the member segment, Otey gets into the heavily ethnocentrically promoted arena of Jewish inventions and the mythical “genius gene” that is supposedly responsible for a huge proportion of Nobel Prize winning scientific discoveries in physics. We discuss the cultural Marxist infiltration of academia and the shameless bid for control through junk technologies that is destroying Western civilization. We look at the achievements of Victor Schauberger, a nature based scientist from a long lineage of foresters, who engineered sophisticated tools based on his observations of the power of implosion. Robert touches on the subject of radiation and the nuclear scare scam that he says needs reexamining. We give some critical thought to the viability of free energy and what has been keeping this Earth preserving technology from replacing the current, colossally costly applications. Later, we examine the credibility of popularly upheld scientists like Carl Sagan and Stephen Hawking, and we speculate as to why the bulk of modern scientific developments are keyed in on intensifying the death grip of control on humanity.


http://www.redicecreations.com/img/radiodownloadbutton.png (http://rediceradio.net/radio/2015/RIR-151230-robertotey-hr1.mp3)

[Horn]

Good show Pat, wonder how many computerized dollar digits they can attach to crude oil molecules in the near future?

I remember those vanishing scientist threads a few years ago, more evidence WWI and WWII placed public scientific and overall progress on lockdown. and now we're left placing huge windmills or pissing into the wind.

[Twisted Titan]

Oil producers are in trouble?

This has got to be one of the biggest myths beside 911 and the holahoax.


BP, Exxon, coninco phlips , Royal Dutch Shell just to name a few.
Pay ZERO TAXES ON PROFITS because of the mental magic the accountanting department works and they rasied it to a level of dark alchemy because the structure themselves in such a way they actually get tax credits from uncle sugar.

So now I ask you with these previous unknows now being known (hatip rummy)

How is it possible that a company that keeps all its profits and gets paid by the gubbermint for breathing be in danger of going belly up?

[mick silver]

US Oil Rig Count Dropped by 63% in 2015

Read more: http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvuKR7r7 (http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvuKR7r7~~The)

Read more: http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvwiY385
The number of oil rigs in the United States fell by nearly two-thirds since the beginning of 2015, according to data compiled by US-based oil services company Baker Hughes published on Friday.

Read more: http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvwiY385

[Dogman]

US Oil Rig Count Dropped by 63% in 2015

Read more: http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvuKR7r7 (http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvuKR7r7~~The)

Read more: http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvwiY385
The number of oil rigs in the United States fell by nearly two-thirds since the beginning of 2015, according to data compiled by US-based oil services company Baker Hughes published on Friday.

Read more: http://sputniknews.com/us/20151231/1032562097/us-rig-count-decrease.html#ixzz3vvwiY385 The high muckyducks (smucks) at the top in all of the energy co's will do good. It is the ones down the at the working levels in (workers) along with the infrastructure that are taking major hits.

Lay off a bunch of oil field grunts when drilling stops and the local business take a big hit. Top down, are the equipment manufactures and suppliers that their workers get laid off. Then the local stores that those out of work, workers used to trade with see sales drop, people move out of the areas and then the tax base takes a hit, etc.

But the high pockets at the top always do good and can easly weather the storm until demand picks up. The bad is if a glut lasts long enough, the skilled workers that know their shit , may not be available to come back into the industry so a new crop needs to be trained, at lower wages starting of course.

[monty]

But the **high pockets at the top always do good and can easly weather the storm until demand

**Rockefeller owned

[Dogman]

**Rockefeller owned Not necessarily of that family or ethnicity, but for dam sure of the same type, that a percentage of all species of the human race have the in common. Which is greed and dominance, which no ethnic group has a total lock on.

Do not get me going about stockholders that also drive many publicly owned co's to push and exceed those co's to go over lines so those same stockholders can get their dividend checks, on a regular and timely manner. Which is a group mind thing that can be good or more or less very bad and possibly evil, money talks all else walks over a cliff.

[7th trump]

The flat earthers will simply not believe that they are constantly falling into the center of the earth. They likely don't believe either that the Earth is in the process of falling into the sun.

Reality can be tough to deal with.

Functionally anyone who handles fiat money is a bankrupt in waiting. They are constantly in denial that the money system can be the cause of their problems so they tend to look elsewhere for a reason. Sometimes the simplest answer is the best.
Hahahaha that fiat money bullshit that you havent proven again huh?

It doesnt matter if it was gold and silver as money.......did you read the article?...its the low prices is whats killing them not the fiat fallacy bullshit.

The system would have collapsed a long time ago if it wasnt for fiat. Not enough gold and silver to cover all the pockets.

[palani]

fiat money bullshit that you havent proven again
Golden Rule - He who has the gold makes the rules.

No gold? No rule!

I didn't make it up. This concept was around long before I arrived here.

its the low prices is whats killing them not the fiat fallacy bullshit.
Falling toward an object that is moving away as fast as you fall ... meaning you will never arrive. You are still falling now matter which way you cut it.


system would have collapsed a long time ago if it wasnt for fiat. Not enough gold and silver to cover all the pockets.
A symbolic amount of gold or silver is needed only. Your pockets would surely sag if you hauled around all you needed in a lifetime.

Don't apologize for being a practicing Communist. You are where you are by the law of your being. If you want with all your heart to be a commie then by all means be all you can be. Don't let my concepts stand in the way of your happiness.

[mick silver]

http://www.thedailybell.com/images/library/bullbear.jpg (http://www.thedailybell.com/news-analysis/36716/ROI/)

[singular_me]

since I cannot download, I am fast forwarding between clients (am at work)

9 octaves of matter... plato and pythagoras regard music as science. God spoke the world into existence in the genesis.


Jewish inventions and the mythical “genius gene” that is supposedly responsible for a huge proportion of Nobel Prize winning scientific discoveries in physics...

genius gene surely explains why earth is being destroyed.

[7th trump]

Golden Rule - He who has the gold makes the rules.

No gold? No rule!

I didn't make it up. This concept was around long before I arrived here.

Falling toward an object that is moving away as fast as you fall ... meaning you will never arrive. You are still falling now matter which way you cut it.


A symbolic amount of gold or silver is needed only. Your pockets would surely sag if you hauled around all you needed in a lifetime.

Don't apologize for being a practicing Communist. You are where you are by the law of your being. If you want with all your heart to be a commie then by all means be all you can be. Don't let my concepts stand in the way of your happiness.

Hahahahaha....you fool!
A fiat dollar is as well symbolic to gold and silver.
Did you forget that you argued with me about the dollar and now you're agreeing to the fiat dollar?
Palani....you're so full of shit and conspiracy stories that you cannot keep any of your bullshit straight, on track and inline with each other.


Palani is your underwear on straight and not inside out and backwards today?

[palani]

A fiat dollar is as well symbolic to gold and silver.
Symbols don't come with attached strings.

you're so full of shit and conspiracy stories that you cannot keep any of your bullshit straight, on track and inline with each other.
Trying to get me to toss my resolution so early in the year?

[7th trump]

Symbols don't come with attached strings.

Trying to get me to toss my resolution so early in the year?

Thats just rich of you palani.
Cant wait to see how you're gonna spin talking about fiat now after stating a symbolic amount of gold and silver.
After all a fiat dollar is only symbolic to so much silver.
A dollar is measured (symbolic) of troy ounce silver.


Yeah...you've painted your ass into a corner now haven't you?

[palani]

Cant wait to see how you're gonna spin talking about fiat now after stating a symbolic amount of gold and silver.
The King's Schilling was symbolic of accepting service in his majesties service. Now it might have been silver but it had the king's image stamped on it. You found these things in the bottom of a tankard of ale after you had drained it. To keep it from becoming a surprise they decided to make pewter tankards with glass bottoms.

So now you find yourself another year older and deeper in debt and you still don't have a clue as to WHY?

[mick silver]

A dollar is measured (symbolic) of troy ounce silver.
so I can get a oz of silver for my dollar ????

[7th trump]

The King's Schilling was symbolic of accepting service in his majesties service. Now it might have been silver but it had the king's image stamped on it. You found these things in the bottom of a tankard of ale after you had drained it. To keep it from becoming a surprise they decided to make pewter tankards with glass bottoms.

So now you find yourself another year older and deeper in debt and you still don't have a clue as to WHY?

Hahahah...nice spin but it doesnt exonerate you from painting yourself into a corner.
I dont give a rats ass about a kings schilling from several hundred years ago. Several hundred years ago has no bearing on your bullshit fallacies.
You really dont know how to get yourself out of this corner do you?
You had no clue you were painting yourself into a corner...all you do is yap bullshit about this and that that you dont have the mental brain capacity to understand the bigger bullshit web you've spun.

[palani]

Hahahah...nice spin but it doesnt exonerate you from painting yourself into a corner.
I dont give a rats ass about a kings schilling from several hundred years ago. Several hundred years ago has no bearing on your bullshit fallacies.
You really dont know how to get yourself out of this corner do you?
You had no clue you were painting yourself into a corner...all you do is yap bullshit about this and that that you dont have the mental brain capacity to understand the bigger bullshit web you've spun.

Rhetoric without logic is a pitiable spectacle.

[7th trump]

Rhetoric without logic is a pitiable spectacle.

Spin it any way you like grasshopper...the fact still remains you painted yourself into a corner.
Now everytime you bring up your fiat fallacy I'm gonna bring this fact up that you said you only need symbolic currency (fiat). You did a complete 360 degree turn a round except when you say its ok ...then its ok but when it fiat of any other color its wrong.

Nice going grasshopper.....try getting yourself out of this one without contradicting yourself...AGAIN!

[palani]

everytime you bring up your fiat fallacy I'm gonna bring this fact up

You have no facts. That is one of your major problems.

As to the symbolic nature of gold or silver the form of the common law contract is ONE DOLLAR AND OTHER VALUABLE CONSIDERATIONS. The ONE DOLLAR is either gold or silver. And don't try to weasel out of the situation by saying a ONE DOLLAR FRN is EQUIVALENT because there are 100 pennies in a dollar.

I swear you are trying my New Years resolution sorely. One more outbreak from you and I will not be responsible for the curses rained down upon your scrawny self.

[7th trump]

You have no facts. That is one of your major problems.

As to the symbolic nature of gold or silver the form of the common law contract is ONE DOLLAR AND OTHER VALUABLE CONSIDERATIONS. The ONE DOLLAR is either gold or silver. And don't try to weasel out of the situation by saying a ONE DOLLAR FRN is EQUIVALENT because there are 100 pennies in a dollar.

I swear you are trying my New Years resolution sorely. One more outbreak from you and I will not be responsible for the curses rained down upon your scrawny self.

Hahaha curses huh?

You are already cursed with your ignorance.
The paper dollar (federal reserve or treasury) is equal to roughly 371 grains of pure silver.
1 dollar is equal to 371 grains of silver or 100 pennies, or 4 quarters, or 10 dimes, or 20 nickels.

Inflation has no bearing on how much of a troy ounce or pennies now does it.

You fool have painted yourself into a corner and I'm not letting this go. You bring your bullshit up and I'm bringing it up that you said that in only needs to symbolic (which is no different than fiat) fiat represents a paper dollar.
The definition of a dollar hasnt changed grasshopper!

You are caught red handed in your bullshit fallacies.
In one hand you denounce fiat.
And in the other hand you promote it to a "T"

Youre a damn joke!

[mick silver]

http://farm9.staticflickr.com/8282/7722746394_abb31d5c58_z.jpg

[palani]

Youre a damn joke!

You asked for it. I am not responsible for the ''accidents" you are about to have. You brought them all on yourself.

[Cebu_4_2]

http://farm9.staticflickr.com/8282/7722746394_abb31d5c58_z.jpg


Mic you need to shave your back before tick season.

[cheka.]

nyc/dc use oil price as tool for their gain + agendas

as jefferson? warned....first by inflation, then by deflation

the same people that profited from the boom/bust in real estate will profit from the price of oil boom bust

funny that over the decades convenience stores were more likely to be out of bread or milk than oil. the supply is steady, the price is the only thing that gyrates