"So with great delight we present the latest blowback from Obama's 'brilliant' strategy to cripple Putin: in addition to the default wave about to crush America's own shale industry, America's biggest foreign ally and military partner when it comes to 'ideologically pure missions of liberation' - the UK, and specifically its North Sea oil industry which according to the BBC is in a 'crisis' and according to Robin Allan, chairman of the independent explorers' association Brindex, the industry was close to collapse'. The story is the same as in the shale patch, only in the far colder and stormier North Sea: 'Almost no new projects in the North Sea are profitable with oil below $60 a barrel', he claims. 'Everyone is retreating'. 'It's almost impossible to make money at these oil prices', Mr Allan, who is a director of Premier Oil in addition to chairing Brindex, told the BBC. 'It's a huge crisis. This has happened before, and the industry adapts, but the adaptation is one of slashing people, slashing projects and reducing costs wherever possible, and that's painful for our staff, painful for companies and painful for the country'. 'It's close to collapse. In terms of new investments - there will be none, everyone is retreating, people are being laid off at most companies this week and in the coming weeks. Budgets for 2015 are being cut by everyone'. And to think it was just yesterday that the WSJ telling anyone who believes propaganda that 'Christmas has come early for British consumers'."

Zum Artikel 'Tyler Durden', erschienen auf ZeroHedge (19. Dezember 2015) »