In case you missed it, heres the top story from Wednesday: The global impact of crashing crude is worrisome. Last month, Goldman Sachs reported nearly $1 trillion in investments in future oil projects will not happen at today’s prices. That was after looking at what was to be the development of 400 of the world’s largest planned oil and gas fields, not including U.S. shale projects. Factor those, and thousands of good-paying American jobs will disappear. The big winner in the crude sweepstakes is Saudi Arabia, which is increasing its world market share. The big losers are U.S. petroleum and shale oil producers who can no longer turn a profit. And the man with the sword in his hands is President Barack Obama. ow.ly/GVE60
Posted on: Sun, 11 Jan 2015 18:00:31 +0000
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