The Oil industry wouldn't lie again. Would they?
Wall Street? Again?
How about the Swamp-thing-In-Chief? Would he tell "alternative facts" about Obama's citizenship, a rigged election (that he won), bogus wiretapping, draining the swamp, holding Wall Street accountable, tax cuts for everyone, balancing the budget, replacing Obamacare with something better, making shale oil profitable again...
The problem is not the liars, it's the fools who desperately need to be lied to over and over again. They are long overdue for their final burial at the hands of their trusted psychopaths...
Yesterday:
"Apparently, investors in American shale deposits have very short memories, or they have not had enough punishment."
"...there are only so many profitable sites in the Permian, and with the continuing rush of capital into the area, the good ones will start to run short at some point. We'll only know that's happened when the second great wave of wealth destruction in the shale fields begins as I suspect it will in the not-to-distant future."
Today:
Doh!
Three months of OPEC agreement gains were wiped out in the past five days:
CNBC: Oil Could Be Heading For the 2016 Low
"With U.S. refiners undergoing seasonal maintenance right now, U.S. oil inventory levels will only grow further"
CNBC: Oil Could Be Heading For the 2016 Low
"With U.S. refiners undergoing seasonal maintenance right now, U.S. oil inventory levels will only grow further"
"We'll only know that's happened when the second great wave of wealth destruction in the shale fields begins as I suspect it will in the not-to-distant future."
How soon is now?
Junk bonds are at the Maginot Line
Exxon
It's called "rope a dope"
The problem with "alternative facts" is that people make very big bets on them.
And then they get wiped out. Oh well, at least they're used to it...
