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North Dakota Admits Half Its Shale Regions Below Breakeven
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 01/10/2015 – 13:15
While talking heads and TV personalities reassure the investing public that low oil prices are “unambiguously awesome” for everyone, it seems the cracks in this narrative are starting to show. From falling wages, surging job cuts, plunging rig counts, and crashing capex, it’s becoming a lot harder to ‘pretend’ that everything’s fine. One wonders, when the companies themselves are slashing workweeks and cutting rig counts, when will ‘investors’ believe… perhaps now that Lynn Helms, Director of the North Dakota Department of Mineral Resources explains to the House Appropriations Committee that at least half of its shale regions are already below breakeven.
From a 12 page presentation…
The post North Dakota Admits Half Its Shale Regions Below Breakeven appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2015/01/10/north-dakota-admits-half-its-shale-regions-below-breakeven-2/
