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Next President of the United Fates of America

Quote:Numerous Oil & Gas Companies Shuffling Toward Death. Banks On Hook. 27 U.S. Coal Companies Forced Into Bankruptcy In 4 yrs over 40,000 Coal Jobs Disappeared Forever. DuPont Cuts 24% of Delaware Workforce…
Submitted by IWB, on January 19th, 2016

Energy workers beware
When our nation’s leader declares war on your industry, watch out.
President Obama used his final State of the Union to demonize American crude oil as “dirty energy.” Energy workers, beware. White House power can devastate whole industries.
For example, President Obama targeted and is successfully destroying what he considers another “dirty energy” source: affordable coal. Last week’s bankruptcy of Arch Coal is one of 27 U.S. coal companies forced into bankruptcy in the last four years. Over 40,000 coal jobs have disappeared forever. The market value of the American coal industry has shrunk by a shocking 90 percent. With one-third of U.S. electricity depending on affordable coal, families and local businesses will pay higher fuel costs.
Now he’s targeting American crude oil and its workers. The White House has launched a full-fledged attack on American-made energy, which will cost Texas energy jobs and aggravate thousands of more job layoffs as the industry fights to survive with under $30 a barrel oil prices.
DuPont Cuts 24% of Delaware Workforce, Layoffs Dent Delaware’s Credit Outlook.
DuPont’s layoffs of 1,700 employees in Delaware ahead of its merger with Dow Chemical are a negative credit event for its home state, Moody’s Investors Service said.
The job cuts, announced late last month, will reduce DuPont’s Delaware workforce by a “significant” 24%, according to Moody’s. Among those being laid off are 200 researchers at the company’s Experimental Station in a Wilmington suburb.
“This event is credit negative for New Castle County (Aaa stable), the City of Wilmington (Aa2 stable), and the State of Delaware (Aaa stable),” Moody’s said in a research note.

DuPont employs approximately 7,000 people in Delaware out of a global workforce of 53,000. Gov. Jack Markell has called the layoffs “deeply disappointing, especially to the thousands of Delawareans who helped this company grow and succeed for generations.”
The new $130 billion DowDuPont plans to combine products from both companies in the areas of agriculture, commodity chemicals and specialty products to create three new businesses. Although DuPont will eliminate more than one in four of its positions in Delaware, the company is not expected to shutter any of its local facilities.
Numerous O&G companies shuffling toward death
Oil and gas producers have cut personnel, slashed capital budgets, laid down rigs, and begun to ration paper clips (well, not yet, but it could happen).
But commodity prices continue to fall and demand is only inching up, leaving numerous companies – over and above the 42 firms that sought bankruptcy court protection during 2015 (according to law firm Haynes & Boone) – that continue shuffling toward death.
Industry watchers call them “zombies”: unsustainable on pretax cash flow, but still paying the interest on their debt. Drilling may have been totally shut down.
“Most E&P [exploration and production] companies cannot survive long term without drilling new wells,” Deborah Williamson, a restructuring/bankruptcy expert and member of the Dykema Cox Smith law firm in San Antonio, Texas, tells Kallanish Energy.
“The value of reserves, cash flow and potential loss of undeveloped acreage all drive a need for new sources of production.”
Hillary’s server is the biggest breach of American secrets in our History and nothing is being done about it…
Never invite a Yoda to a frog leg dinner.
Go ahead invite Yoda to a Frog leg dinner

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RE: Next President of the United Fates of America - by Wook - 01-20-2016, 11:50 AM

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