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May 15, 2015

Easy Money Dried Up for Shale as Crude Tumbles To Key Support

It appears a slew of dismally disappointing economic data has finally broken the back of the camel... WTI Crude - on the heels of Saudi proclamations that they are winning the fight against US Shale - has tumbled back to the key $59.50 level...  (Read: OPEC Continues Oil Price War
Perhaps Goldman was right after all and higher prices will merely delay the required restructurings. And then there is this:
Blackstone Group LP’s distressed credit unit is backing away from investments in the most troubled energy companies based on its expectation that oil prices are due for a renewed decline.
Has the easy (and dumb) money funding dried up?
Courtesy Tyler Durden, founder of Zero Hedge (EconMatters author archive here)   

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Item Reviewed: Easy Money Dried Up for Shale as Crude Tumbles To Key Support Rating: 5 Reviewed By: EconMatters