Debt Rattle December 5 2014
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William Henry Jackson Hand cart carry, Adirondacks, New York 1902 • This Is Oil’s ‘Minsky Moment’: Marc Chandler (CNBC) • Cheap Oil’s Economic Benefit
[See the full post at: Debt Rattle December 5 2014]I don’t think Chandler has it right. The drop of oil will indeed mean shale is not profitable. Heck, it wasn’t profitable for many operators at $100/barrel. Drillers need the financing because it’s negative cash flow (chronically) and NOT profitable.
One may ask how can a drilling operation get financing and not be profitable. The answer: Ponzi scheme.
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