Tuesday Oct 22 2019
SLB took a $12..7 billion impairment charge on its fracking operation.
I mentioned in class that important lows in markets were accompanied by gloom and doom articles. Here is another example of just that.
At the same time Liz Warren declares she will ban fracking her first day as President. Tudor Pickering suggests this will result in soaring natural gas,oil, and gasoline prices.
Tudor suggests nat gas could hit $9-15. Oil might go to $80-85 or even $150. No one of course has any way to measure what might happen as a result of an ill thought out move by an environmental extremist like Warren.
Not content with cleaner running autos and trucks, she of course wants sky high gas prices to force those in the West to alter their life style. That is easy in CT not so much in West Texas.
The prospect of a Warren Presidency might be one think that starts a low in price.
Comments