QUOTE OF THE WEEK — Bethany McLean
“It’s worth remembering that Wall Street can make money even when the businesses that they are funding don’t make money,” explained Saudi America author Bethany McLean in this Strand Book Store discussion talking about financing of the shale oil and fracking industries and whether this business model’s economics work — or not– when from 2006 – 2014 “the 16 largest publicly traded frackers spent $80 billion more than they received from selling oil and gas” when the price of oil was over $100/barrel . WATCH VIDEO quotes are at 6:00 and 7:45.
How Low Can It Go?? Oil Futures In Unprecedented Negative Territory (Our Daily Planet)
How low can oil go? (Politico’s Morning Energy)