04-26-2020, 10:40 PM
(This post was last modified: 04-26-2020, 10:42 PM by JAWSAWTIKAL.)
Diamond offshore filed for bankruptcy this weekend. 10 years ago it was considered a very stable company but the price war and virus has done it in now. A lot more energy companies should follow it into bankruptcy very soon because there are 27 oil tankers anchored offshore right now off the coast of California with no place to put the oil. May19 those who were holding futures contracts are going to have to find someplace to put all those barrels of oil, also. It seems like all drilling and pumping of oil will have to cease for a period of time now...a month or a few months?
The Swiss national bank reported a 38 billion loss for the first quarter of this year according to zero hedge a few days ago.
The Swiss national bank reported a 38 billion loss for the first quarter of this year according to zero hedge a few days ago.