Maybe not directly. But everything's connected in this globalised clusterfuck world we're living in.
Woodside, BHP, Santos, and Origin raised capital through billion dollar US junk bonds.
Declines in oil and gas prices means the US junk bond market could be another black swan of the many potential black swans flying around.
Thank you overcapitalised Australian LNG companies and US fracking companies for giving us another black swan.
On the local side, Woodside (4 billion debt), BHP (31 billion debt), Santos (8 billion), and Origin (debt 11 billion) are a significant composition of the ASX 200, to which many super are indexed. Those junk bonds imploding are just another black hole that can pull the index to 3000, bringing down with it the retirement of 2nd generation baby boomers retiring in the near future.
Wealth effect will affect house prices or house prices will fucking implode anyways who gives a flying fuck.
Our problems here are very high investment and extremely high extraction costs.
We don't have enough gas being produced from CS wells.
Can't compete with the likes of the U.S., Iran or Qatar who fucking flare more per day than we produce in a year.
There's just no comparison.........we are small potatoes.
The article is very sanitized to put on a semblance of hope.
Where I currently work, we are pumping Bass straits gas north via a number of pipelines to the 'three fools' now to cover shortfalls on their 'commitments' to Gladstone because they don't have enough for export.
Our problems here are very high investment and extremely high extraction costs.
We don't have enough gas being produced from CS wells.
Can't compete with the likes of the U.S., Iran or Qatar who fucking flare more per day than we produce in a year.
There's just no comparison.........we are small potatoes.
The article is very sanitized to put on a semblance of hope.
Where I currently work, we are pumping Bass straits gas north via a number of pipelines to the 'three fools' now to cover shortfalls on their 'commitments' to Gladstone because they don't have enough for export.
It's the fucking Saudis man. Fuckers can extract oil at $6 a barrel.
Everybody else's just digging, drilling, pumping, and extracting on a hope and a prayer.
Maybe not directly. But everything's connected in this globalised clusterfuck world we're living in.
Woodside, BHP, Santos, and Origin raised capital through billion dollar US junk bonds.
Declines in oil and gas prices means the US junk bond market could be another black swan of the many potential black swans flying around.
Thank you overcapitalised Australian LNG companies and US fracking companies for giving us another black swan.
On the local side, Woodside (4 billion debt), BHP (31 billion debt), Santos (8 billion), and Origin (debt 11 billion) are a significant composition of the ASX 200, to which many super are indexed. Those junk bonds imploding are just another black hole that can pull the index to 3000, bringing down with it the retirement of 2nd generation baby boomers retiring in the near future.
Wealth effect will affect house prices or house prices will fucking implode anyways who gives a flying fuck.
The U.S. Shale and fracking tight gas industry is fucked!
They can't compete with Petroleum or petro gas, period!
How do you compete with the likes of Saudi or Iran whose extraction costs are less than a buck per barrel when yours is like $70 per barrel with all the processing of dirt and drilling and fracking? It was a chimera cooked up in Texas, good enough when prices were at $120 per barrel...........but no more.
That whole shale myth has been thoroughly debunked now.
No wonder the U.S. got on its knees to suck off Iran, using the dubious nuke program as a cover.
Its a joke mate.
They need Iran on their side now against Russia and China, or it ain't gonna work.
The U.S. Shale and fracking tight gas industry is fucked!
They can't compete with Petroleum or petro gas, period!
How do you compete with the likes of Saudi or Iran whose extraction costs are less than a buck per barrel when yours is like $70 per barrel with all the processing of dirt and drilling and fracking? It was a chimera cooked up in Texas, good enough when prices were at $120 per barrel...........but no more.
That whole shale myth has been thoroughly debunked now.
No wonder the U.S. got on its knees to suck off Iran, using the dubious nuke program as a cover.
Its a joke mate.
Saudi is supposedly going to be in trouble too in a few years if prices do not rise. Meanwhile with so many already committed to production it could be sub 40 for a while.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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