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Oil, Banks, ECB, Consumers, and Ned Lamont (Podcast)

Bloomberg Intelligence

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The Prospects for the Shale Industry

The rig count has fallen close to 10% this year. Rig counts have gone down by almost 50 rigs in the last month or so. The appeal here, more than anything else seems to be the 200 million in synergies that a power sim will realize in this deal. While $70 oil is not the worst thing in the world for the industry, given some of the broader macro concerns that are out there, this suggests to me that we're heading through a slow patch at a minimum.

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