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Fed Reserve Dallas on bankruptcies oil and gas companies
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2020 May 6, 11:07am 871 views 11 comments
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1
AD
2020 May 6, 11:09am
AD
2020 May 6, 11:09am
That is why I expect a run up of oil and natural gas prices starting in the next 6 months and then peaking within 2 to 4 years.
2
AD
2020 May 6, 12:48pm
AD
2020 May 6, 12:48pm
OccasionalCortex says
Very true. Good points.
I bought Chevron, Exxon and Phillips 66 when they were down at least 60%. I also bought US Natural Gas Fund a few weeks ago.
I agree, there was an oil war between Russia, Saudi Arabia and the US drillers.
I think small and mid size US drillers need at least $50 a barrel to survive. They will go bankrupt and their assets will get bought out by the large integrated companies like Exxon.
Which tells me that this isn't for the small to medium fracker firms. This is going to be a bailout of the oil majors who could use a severe trimming themselves. Just wait and watch.
Very true. Good points.
I bought Chevron, Exxon and Phillips 66 when they were down at least 60%. I also bought US Natural Gas Fund a few weeks ago.
I agree, there was an oil war between Russia, Saudi Arabia and the US drillers.
I think small and mid size US drillers need at least $50 a barrel to survive. They will go bankrupt and their assets will get bought out by the large integrated companies like Exxon.
3
AD
2020 May 6, 1:10pm
AD
2020 May 6, 1:10pm
OccasionalCortex says
That is what I was thinking. This is like military officers and civilians at the Pentagon who are part of the revolving door and go work for a defense contractor after they retire.
I can see the same as far as Dallas Federal Reserve economists, managers, etc. working for the major oil and gas integrated companies like Chevron after they rotate out or retire from the Federal Reserve.
..funded for completely politicized reasons by the Fed. I fully expect more than a few Fed fucks to get nice, cushy jobs in the oil industry when their terms are over because of this.
That is what I was thinking. This is like military officers and civilians at the Pentagon who are part of the revolving door and go work for a defense contractor after they retire.
I can see the same as far as Dallas Federal Reserve economists, managers, etc. working for the major oil and gas integrated companies like Chevron after they rotate out or retire from the Federal Reserve.
4
Tenpoundbass
2020 May 6, 1:12pm
Tenpoundbass
2020 May 6, 1:12pm
These guys have enjoyed nothing but pure profits for over 15 years, if they don't have a huge reserve of cash pilled up. Then fuck them they deserve nothing more than losing their 30 million dollar mansions.
5
Ceffer
2020 May 6, 1:25pm
Ceffer
2020 May 6, 1:25pm
Time for another juicy false flag, (however, blowing up skyscrapers and blaming it on Arabs is passe), and invade the Middle East again.
6
Tenpoundbass
2020 May 6, 3:55pm
Tenpoundbass
2020 May 6, 3:55pm
Ceffer says
Nothing anyone can do about this situation. But hope Donald Trump can make not only US's economy but the whole world should adopt our domestic growth through domestic consumption policy. We need a turbo charged capitalist economy to get things flowing proper again.
Dare I even say it could put electric cars on the back burner for now. We may continue to see Tesla and the models they offer now. But we wont be seeing cheap EV's for the masses, or a massive fleets of SDC, that are subscription base.
We might even see the return of the Hummer and Pick Up Trucks under $20K instead of the $80K outrageous price they are going for now.
Time for another juicy false flag, (however, blowing up skyscrapers and blaming it on Arabs is passe), and invade the Middle East again.
Nothing anyone can do about this situation. But hope Donald Trump can make not only US's economy but the whole world should adopt our domestic growth through domestic consumption policy. We need a turbo charged capitalist economy to get things flowing proper again.
Dare I even say it could put electric cars on the back burner for now. We may continue to see Tesla and the models they offer now. But we wont be seeing cheap EV's for the masses, or a massive fleets of SDC, that are subscription base.
We might even see the return of the Hummer and Pick Up Trucks under $20K instead of the $80K outrageous price they are going for now.
7
Booger
2020 May 6, 4:48pm
Booger
2020 May 6, 4:48pm
Tenpoundbass says
Do you honestly see any CEO's losing their house?
Then fuck them they deserve nothing more than losing their 30 million dollar mansions.
Do you honestly see any CEO's losing their house?
8
AD
2020 May 16, 6:21pm
AD
2020 May 16, 6:21pm
Booger says
Good points. I don't see the executives getting financially ruined.
JC Penney paid out at least $1 million to its CFO, COO, and other C-level executives just before it filed for Chapter 11 bankruptcy on the evening of May 15, 2020.
Tenpoundbass saysThen fuck them they deserve nothing more than losing their 30 million dollar mansions.
Do you honestly see any CEO's losing their house?
Good points. I don't see the executives getting financially ruined.
JC Penney paid out at least $1 million to its CFO, COO, and other C-level executives just before it filed for Chapter 11 bankruptcy on the evening of May 15, 2020.
9
Bd6r
2020 May 16, 6:39pm
Bd6r
2020 May 16, 6:39pm
Booger says
Sales of 5M+ houses in TX boom during oil crises. A good oil company exec buys an expensive house, as it can not be taken away if he goes bankrupt as per TX law.
Do you honestly see any CEO's losing their house?
Sales of 5M+ houses in TX boom during oil crises. A good oil company exec buys an expensive house, as it can not be taken away if he goes bankrupt as per TX law.
10
HeadSet
2020 May 17, 7:15am
HeadSet
2020 May 17, 7:15am
rd6B says
Does that mean one can get a Jumbo Loan on a mansion, then declare a bankruptcy after a job loss, get the mortgage forgiven and keep the house?
Booger saysDo you honestly see any CEO's losing their house?
Sales of 5M+ houses in TX boom during oil crises. A good oil company exec buys an expensive house, as it can not be taken away if he goes bankrupt as per TX law.
Does that mean one can get a Jumbo Loan on a mansion, then declare a bankruptcy after a job loss, get the mortgage forgiven and keep the house?
11
Bd6r
2020 May 17, 8:19am
Bd6r
2020 May 17, 8:19am
HeadSet says
Not sure - this is what I know:
Texas laws are very liberal when it comes to what you can keep from your creditors. For a family, you can keep your home (up to 10 acres in a city or town, 200 acres in a rural area), plus all buildings and improvements, so long as used as part of the homestead. In addition, a family can keep up to $60,000 worth of equity in personal property, including clothes, jewelry, household goods and furniture, equity in vehicles, etc., with certain limitations.
Also exempt are retirement plans, college savings plans, annuities, life insurance, and many other things. NOT exempt are such things as brokerage accounts that are not a retirement plan, cash savings in the bank, check accounts, money market accournts and CD's.
Does that mean one can get a Jumbo Loan on a mansion, then declare a bankruptcy after a job loss, get the mortgage forgiven and keep the house?
Not sure - this is what I know:
Texas laws are very liberal when it comes to what you can keep from your creditors. For a family, you can keep your home (up to 10 acres in a city or town, 200 acres in a rural area), plus all buildings and improvements, so long as used as part of the homestead. In addition, a family can keep up to $60,000 worth of equity in personal property, including clothes, jewelry, household goods and furniture, equity in vehicles, etc., with certain limitations.
Also exempt are retirement plans, college savings plans, annuities, life insurance, and many other things. NOT exempt are such things as brokerage accounts that are not a retirement plan, cash savings in the bank, check accounts, money market accournts and CD's.
“There are a number of companies in this industry, either drillers or service providers, that went into this highly leveraged, and I think they're going to have to pursue other actions in order to restructure their debt,” Kaplan told Yahoo Finance’s “On The Move.”
Kaplan said creditworthy companies that pass lenders’ cash flow tests will be eligible for loans through the Fed’s forthcoming Main Street Lending facility.
“There will be a substantial number of bankruptcies, restructurings that are going to have to happen, because so much of production is being shut in,” Kaplan said.