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New US Oil Well Permits Collapse 40% In November, Fed Still “Not Worried”?
Wednesday, December 3, 2014 11:50
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Houston, we have a problem-er.
With a third of S&P 500 capital expenditure due from the imploding energy sector (and with over 20% of the high-yield market dominated by these names), paying attention to any inflection point in the US oil-producers is critical as they have been gung-ho “unequivocally good” expanders even as oil prices began to fall.
So, when Reuters reports a drop of almost 40 percent in new well permits issued across the United States in November, even The Fed's Stan Fischer might start to question his lower oil prices are “a phenomenon that’s making everybody better off,” may warrant a rethink …. http://www.zerohedge.com
Source: http://luismmx.blogspot.com/2014/12/new-us-oil-well-permits-collapse-40-in.html
most of our oil comes from Canada and Alaska and plenty is in Dakotas there r so many alternatives than fossil fuels but USA citizens r lost in some entertainment sports matrix oh war people that they waste their energy! pun intended!