Oil Down 6.88% On OPEC Strategy to Destroy U.S. Shale Business

November 27th, 2014

Warning: This is not a recommendation to buy, sell or hold any financial instrument.

I’ll be dusting off some capital for an eventual long side play. However, there’s a part of me, a gut feeling, that thinks that the shale apocalypse will just continue on somehow.

Crude Oil Jan 15 (CLF15.NYM) -NY Mercantile 68.62 Down 5.07(6.88%) 7:36PM EST

Via: Bloomberg:

OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to U.S. shale drillers.

The 12-nation group abandoned its role as a swing producer, ignoring the steepest slump in oil prices since the global recession to keep its output target unchanged. Yesterday’s decision in Vienna propelled futures to the lowest since 2010, a level that means some shale producers may lose money.

Posted in Atrocities, Collapse, Dictatorship, Economy, Elite, Energy, Environment, War | Top Of Page

One Response to “Oil Down 6.88% On OPEC Strategy to Destroy U.S. Shale Business”

  1. Eileen says:
    November 28, 2014 at 8:39 pm

    I really hope you are wrong Kevin about the shale oil stuff continuing. Most of western and northern PA have been raped and pillaged by this crap. I can see flare gas burning on my way home at night.
    People here in western Pa and Ohio have been fighting this drilling – we’ve had earthquakes 5 miles away from an injection well. Its just sickening to me. Ever feel helpless, well this is an example of what that feels like. There has been no stopping of these Texans.
    If you are going to bet on this Kevin, please find a Texas company who is drilling in Pa and please bet on my hope they go under, under, under for how they have raped and pillaged our landscape, water, and air. Thank You.

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