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by lainga
2278 days ago
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Someone (Matt Levine??) on Bloomberg said that "Russia and Saudi Arabia seem to have accepted that periodically bankrupting US fracking operations is a cost of business". Periodically - because US oil extraction is done by many firms in a country with strong bankruptcy law, and after 2 or 3 years SA and RU will stop dumping, prices will rise, and they'll spring right up again (barring some drastic change in world oil consumption.) So it's more like Don'tlose-don'tlose-losetemporarily. |
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