The principle of self liquidating debt who is dana owens dating
This is what I call the cannibalization of the system.We know it is happening because you may have quoted this. Now what is even worse than that the average for the past 15 years the global – the world oil industry has been discovering about 9 billion new barrels of oil. And today we are going to be talking with a guest that frankly should have been on this program a long time ago, and many times since. If we go back to 2008 we had a lot of trouble in the housing market, in the banking industry, investment banking industry disappeared.
They are saddled with debt, which they didn’t have in 2008. I don’t have more recent data than I can find this is a BIS report that noted that from 2006 to 2014 global oil and gas industry. Companies that have opportunities will go into debt. If you have got self-liquidating productive enterprise cash flowing things to borrow against that can be good use of money. That means that something like three years of oil production has to be sold to just pay back the debt. You raised what I think is just the big red flag in all of this to focus it down back in the shale business.
And so when you look at that, you say well, it didn’t make the money it was supposed to make.