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Optimistic about Oil Market

Three Reasons to be Optimistic About the Oil Market

Over the many months and pay cycles since the downturn in 2014, Texas’ oil and gas industry has seen one bad headline after another. The state has witnessed major bankruptcies; repeated rounds of workforce downsizing; aborted mergers; endemic rig stacking; and a political inquisition to criminalize unapproved thoughts on climate change.

Oil jumpjack (Hasan Jamali / Associated Press)

Saudi Arabia Abandons Deal to Cut Oil Production

Saudi Arabia has scuttled talk of a deal with other big oil nations to cut production and “warned high-cost operators such as U.S. shale drillers to trim costs or go bust, in a stark message that triggered fresh pressure on crude prices,” as the Financial Times put it.

AP Photo

China Worries About Greece as Everyone Worries About China

China is teetering on the edge of a 1929-style stock market meltdown, and Greece might be about to exit the Euro. China is worried about what the Grexit, or an even larger collapse of the Euro, might do to its house-of-cards stock market. Everybody else is worried about what a Chinese collapse could do to their markets, especially since Western socialists have sold so much of their own nations to China over the years.