Cartoon Of the Week
This cartoon referenced the legal battle between Texaco and Getty in 1987, specifically Texaco's legal counsel and how it had run out of ideas in the ensuing trial.
The cartoons seems even more relevant today, however, and begs the question, whats next for the American shale oil phenomena?
Every barrel of assets the shale oil sector now produces to pay interest on long term debt will negatively affect its reserve base lending/revolving line of credit vehicles and its ability to put rigs back to work in the future. Remember one simple thing about the oil production business...if you are not replacing reserves faster than you are depleting them, you are liquidating yourself, you are going out of business. And given the enormous decline rates of existing shale oil production, it won't take long.
For raising money, Shale 3.0, what's the idea? Or has the well run dry?