Chevron's Loss, an Oops Moment?

[william the wie]

The Majors are bleeding money trying to maintain their dividend payouts, independents are bleeding money trying to stave off bankruptcy. The oil industry is in ever deeper trouble and OPEC has no leverage any more. Since China has locked in, through pre-payment, high oil prices it is headed for disaster, Russia is floating on high priced oil it can't sell at a detectable profit and Iran is going to expand production now that sanctions have ended. Talk about a perfect storm.

 

[RodISHI]

Anyone that knows and understands the story of the battle where 'Ahab' believes a lie and goes out to war could get a good idea where this is headed.

 

[william the wie]

Yessir, I'm betting on less than $10/bbl oil before this ends