Ted Cruz is nothing but rhetoric. He isn't trustworthy.
March 23, 2016
March 23, 2016
By Paul Ausick
Independent oil and gas producer (click here) Emerald Oil Co. (NYSEMKT: EOX) filed for bankruptcy Tuesday after markets closed. The company’s main area of operations is the Bakken shale play in North Dakota and Montana.
In its filing the company said it had received a “stalking horse” bid from Latium Enterprises, but neither Emerald nor Latium specified a bid price. Emerald said it has $20 million of debtor-in-possession financing available, pending the bankruptcy court’s approval....
...Other independent oil and gas producers that have filed for bankruptcy include Magnum Hunter Resources, Samson Resources and Swift Energy.
Emerald’s stock traded up about 7% Wednesday afternoon, at $1.37 in a 52-week range of $0.39 to $19.00.
The Independent petroleum industry that wants all these pipelines in the USA borrowed 90% of potential income from the banks. Then they watched as their product's value sunk to record lows. They are selling their oil at a loss. That can't go on forever.
Ted Cruz speaks Republican rhetoric and knows nothing about the facts.
The petroleum industry wants a bailout from the federal government as soon as a Republican president is elected in 2016.
The Independent petroleum industry that wants all these pipelines in the USA borrowed 90% of potential income from the banks. Then they watched as their product's value sunk to record lows. They are selling their oil at a loss. That can't go on forever.
Ted Cruz speaks Republican rhetoric and knows nothing about the facts.
The petroleum industry wants a bailout from the federal government as soon as a Republican president is elected in 2016.
