/biz/ - Business & Finance

>>18357344
stupid nigger

>be small O&G co. with $10M in debt
>told the banks you had $10M in assets
>they audited you and lowered your equity to $5M
>some of those assets are depreciating and have O&M
>annual O&M of $1M a year
>need $60/barrel just to break even with O&M costs
>can't even pay your interest at $60/barrel
>hundreds of companies like this exist
And there you go, that's the black pill on O&G. I will always laugh at anyone thinking they can time the bottom. This shit show has been going downhill from 2015. I drive by these companies' offices every day in Houston. Parking lots 80% empty, no foot traffic. It's fucking dead.

There Will Be Blood is my favourite /biz/ movie, just makes me sad when you realise how cucked we are today with regulations, laws and do gooders.

Back then men could just go out into the harsh world with ideas and determination and create an empire.