Tuesday, October 17, 2017

Oil Companies In Big Trouble

The world’s largest oil companies are in serious trouble as their balance sheets deteriorate from higher costs, falling profits and skyrocketing debt. The glory days of the highly profitable global oil companies have come to an end. All that remains now is a mere shadow of the once mighty oil industry that will be forced to continue cannibalizing itself to produce the last bit of valuable oil.

I realize my extremely unfavorable opinion of the world’s oil industry runs counter to many mainstream energy analysts, however, their belief that business, as usual, will continue for decades, is entirely unfounded. Why? Because, they do not understand the ramifications of the Falling EROI – Energy Returned On Invested, and its impact on the global economy.


You can read the rest @
https://srsroccoreport.com/worlds-largest-oil-companies-deep-trouble-as-profits-vaporize-while-debts-skyrocket/

Perhaps this is another reason why the US is scrambling to create a data-based economy to replace the current petrodollar system:

https://sainthoward.blogspot.com/2017/09/what-will-replace-petrodollar.html

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