You are here
Bankers see $1 trillion of investments stranded in the oil fields
By Tom Randall
Bloomberg News
Thursday, December 18, 2014
There are zombies in the oil fields.
After crude prices dropped 49 percent in six months, oil projects planned for next year are the undead -- still standing but with little hope of a productive future. These zombie projects proliferate in expensive Arctic oil, deepwater-drilling regions, and tar sands from Canada to Venezuela.
In a stunning analysis this week, Goldman Sachs found almost $1 trillion in investments in future oil projects at risk. They looked at 400 of the world's largest new oil and gas fields -- excluding U.S. shale -- and found projects representing $930 billion of future investment that are no longer profitable with Brent crude at $70. In the United States, the shale-oil party isn't over yet but zombies are beginning to crash it. ...
... For the remainder of the report:
http://www.bloomberg.com/news/2014-12-18/bankers-see-1-trillion-of-inves...
Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore
Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.
Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.
Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.
Goldbroker.com is listed among GATA's recommended monetary metals dealers. (http://www.gata.org/node/173)
To invest or learn more, please visit:
Join GATA here:
Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015
http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...
* * *
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
https://jeffersoncompanies.com/landing/2014-av-powell
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
