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I know nothing about the oil industry and would like to know if this news should be of any concern to the average citizen or if the majority might actually cons
by dustinmoris 7y ago
I know nothing about the oil industry and would like to know if this news should be of any concern to the average citizen or if the majority might actually consider this as extremely welcome news as we should be looking to reduce our fossil fuel footprint anyway?
- miketery 7y agoA non trivial part of the economy depends on oil prices staying above a certain level. Producers and Services companies in particular. That's a lot of jobs. We are likely looking at further lay offs and mass defaults on bonds. Also possible environmental impact from abandoned wells, or defaulting on cleanup obligations. Probably more I'm missing.