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Page added on March 11, 2015
If You’re An Oil Worker Who Lives Here, Move!
As crude prices drop back to cycle lows, breaking the back of the stability-meme, we thought a quick reminder of the world’s major energy projects that are completely FUBAR given the current prices, record production, and record inventories…
Goldman maps the places “Not To Be”…
and here is Citi’s massive cost curve expectations for all IOC projects…
click images for large legible version
Charts: Goldman Sachs and Citi
3 Comments on "If You’re An Oil Worker Who Lives Here, Move!"
BobInget on Wed, 11th Mar 2015 4:34 pm
Goldman along with Saudi Arabia are shorting oil markets. It’s in Goldman’s interest to keep up this ‘glut’ drumbeat.
(traders call it ‘talking your own book’)
Now, I don’t blame brokers paying close attention to geopolitical movements. It’s their jobs. But, this constant harangue is getting old. Banksters are buying oil at these prices
with both greedy hands, socking it away
onboard ships, in tanks, indeed anywhere
they can find space.
If it were oats or wheat or rough rice they were stashing away for future fun and profit,
some people might believe, correctly, GS
was profiting at the expense of the poor.
If you still believe in PO, how can you believe
oil prices can stay this low in the face of artificial stimulation?
I’ve listed failed oil exporting nations here ad noisome. I’ve shown how consumption has been rising in real terms, never mind RATE
of growth. I’ve pointed to India,1.2 Billion people growing at 6.7 percent. Just feeding
China and India, never mind everyone else,
will (eventually) absorb most of what has become known as ‘exportable’ oil.
When Japan builds a Honda, sends fishing vessels half way round the world, it takes
a lot of oil.
When Iran and Iraq put tanks on the ground
that consume diesel by the ton, I remark on
it. When Goldman Sacs grinds out biased,
bearish articles they are enriching themselves
without caring that Americans have been fooled by their propaganda.
Apneaman on Thu, 12th Mar 2015 12:02 am
Drugs, Prostitution, Violence Plague Oil Boom Towns Gone Bust
http://www.zerohedge.com/news/2015-03-11/drugs-prostitution-violence-plague-oil-boom-towns-gone-bust
GregT on Thu, 12th Mar 2015 2:18 am
“CNN Goldman Sachs & the Zio Matrix”
“https://www.youtube.com/watch?v=Zw9EhjyU3JU”
Of course this stuff is all “politically incorrect”, and should not be spoken about. In many places in the world it could land you in prison. Freedom of speech, and all that.