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  • Anonymous
    Inactive
    Post count: 115

    Good morning, Sean

    “How, in the world” (literally), did oil fall below $10/barrel, without the world’s economic engine collapse?

    And, just what does this mean for the rest of the economy?

    Sean Hyman
    Keymaster
    Post count: 27832

    Because for the first time in our lifetime, the US and global economy was practically shut down, much like a person purposefully put in an induced coma. They’ll bring the economy out of that coma, hopefully soon.

    The carnage is that some low cash/high debt oil companies will likely go under. And the banks that funded them run huge risks/losses. Additionally, the housing markets around the oil-rig areas could take a hit as well and foreclosures rise.

    Jenae J
    Participant
    Post count: 7

    Any thoughts on how RIG and DO will fair this oil storm?

    Sean Hyman
    Keymaster
    Post count: 27832

    I’d urge you to put RIG or DO or Diamond Offshore, etc. in the search field. We’ve talked about it a lot lately. Using that search field will help us from repeating the same info over and over.

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