With sub-$60 oil, fracking and tar sands losses threaten the whole financial system
Paul Mobbs
17th December 2014
A new financial crisis is threatening to dwarf the 'subprime' mortgage debacle, writes Paul Mobbs. Cheap money from central banks has fuelled some $1.3 trillion of risky investments in high-cost 'unconventional' oil and gas. Now, with oil sinking below $60, all that paper is turning to junk - and that's putting the entire economic system at risk.
PEAK OIL - EPOCHAL EVENT OF OUR LIVES #board-6609 SUSTAINABLE LIVING FOR CHALLENGING TIMES #board-9881 PEAK BEE POPULATION - COLONY COLLAPSE DISORDER #board-17471 PEAK WATER #board-12656
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.