Interesting Video On Big Oil's Potential Stranded Asset Problem

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1. thanks for posting this video

It's very current. Talks about CoVid-19 effect on oil consumption - down 28%

Couple of notes:
about 7 min mark:

Talking about Permian from 2012-17, names about 5 drilling companies that operated on a $40 billion cash flow deficit.

Called it a Ponzi scheme. Sell shares, pull the cash out, declare bankruptcy.

About 8 min mark:

in last 5 years again in the Permian Basin:

208 oil producers and
224 Oil Service companies

Filed for bankruptcy.

Wiping out $209 Billion in debt.

Sourced very well. Pulled a quote from Wood MacKinzey on oil majors needing $50+/barrel to break even.

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2. Big Oil finally getting stranded.

What an interesting mess.