Is It Time To Bail Out Of The U.S. Oil Industry

Is It Time To Bail Out Of The U.S. Oil Industry?

America’s once-booming oil industry is suddenly in deep financial trouble. The crash in oil prices has depleted tens of thousands of jobs, caused bankruptcies and has the global financial market on the edge.

It is time to send out an S.O.S, before it’s too late, “John Kilduff, founding partner of energy hedge fund Again Capital, wrote in a recent CNBC column.” “Kilduff fears Saudi Arabia’s strategy of flooding the world with oil to put pressure on high-cost producers in the U.S. will kill America’s shale business.”

There doesn’t seem to be any legislative proposals in Congress for a full-scale bailout yet, “however, Senator Lisa Murkowski and Rep. Fred Upton plan to meet to discuss an energy package, according to the Hill.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s