Will Obama bail out the oil industry next?

[ShootSpeeders]

NO MORE CORPORATE WELFARE. Goddam obozo.!!! Free enterprise has turned into a joke the last 7 years.

Is it time to bail out the U.S. oil industry?

jan 14 2016 America's once-booming oil industry is suddenly in deep financial trouble.
The epic crash in oil prices has wiped out tens of thousands of jobs, caused dozens of bankruptcies and spooked global financial markets.

The fallout is already being felt in oil-rich states like Texas, Oklahoma and North Dakota, where home foreclosure rates are spiking and economic growth is slowing.
Now there are calls in at least some corners for the federal government to come to the rescue.

"It is time to send out an S.O.S., before it's too late," John Kilduff, founding partner of energy hedge fund Again Capital, wrote in a recent CNBC column. In the Kilduff dictionary, by the way, S.O.S. stands for "Save Our Shale" industry.

Kilduff fears Saudi Arabia's strategy of flooding the world with oil to put pressure on high-cost producers in the U.S. will kill America's shale business.
"While we are laughing our way to the gasoline pump now, we are heading back down the road to dependence on OPEC and foreign oil," he wrote.

Greg Valliere, chief strategist at Horizon Investments, thinks an oil bailout could become the next big issue in Congress. "If Washington can bail out big banks and the auto industry, why not a bailout for oil companies?" Valliere wrote in a client note on Thursday.

 

[Penelope]

I was thinking the same thing, we better not. Obama didn't have much choice, it was what Bush left him, crap.

 

[IcebergSlim]

NO MORE CORPORATE WELFARE. Goddam obozo.!!! Free enterprise has turned into a joke the last 7 years.

Is it time to bail out the U.S. oil industry?

jan 14 2016 America's once-booming oil industry is suddenly in deep financial trouble.
The epic crash in oil prices has wiped out tens of thousands of jobs, caused dozens of bankruptcies and spooked global financial markets.

The fallout is already being felt in oil-rich states like Texas, Oklahoma and North Dakota, where home foreclosure rates are spiking and economic growth is slowing.
Now there are calls in at least some corners for the federal government to come to the rescue.

"It is time to send out an S.O.S., before it's too late," John Kilduff, founding partner of energy hedge fund Again Capital, wrote in a recent CNBC column. In the Kilduff dictionary, by the way, S.O.S. stands for "Save Our Shale" industry.

Kilduff fears Saudi Arabia's strategy of flooding the world with oil to put pressure on high-cost producers in the U.S. will kill America's shale business.
"While we are laughing our way to the gasoline pump now, we are heading back down the road to dependence on OPEC and foreign oil," he wrote.

Greg Valliere, chief strategist at Horizon Investments, thinks an oil bailout could become the next big issue in Congress. "If Washington can bail out big banks and the auto industry, why not a bailout for oil companies?" Valliere wrote in a client note on Thursday.

Your citation, at a glance, does not even mention Obama, Inbred Cracker....

 

[Zander]

China has placed a floor on domestic Oil at $40/bbl.

Sinopec, PetroChina Fall After Government Sets $40 Oil Floor

 

[PaintMyHouse]

The need a bailout like a fish needs a bicycle.

 

[ShootSpeeders]

China has placed a floor on domestic Oil at $40/bbl.

Sinopec, PetroChina Fall After Government Sets $40 Oil Floor

You ignorant jackass. Oil closed at $30 bbl today.

 

[ShootSpeeders]

t. Obama didn't have much choice, it was what Bush left him, crap.

That's BS. Obozo didn't have to bail out the banks and insurance companies and GM. That was obozo's choice and don't blame it on bush.