Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Dr. Orly Taitz Esquire (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

As I predicted, we are starting to see fall of oil companies in US. Tariffs on foreign oil are badly needed, however our corrupt president and congress are doing nothing to protect the US industries

% of readers think this story is Fact. Add your two cents.


  • WBH Energy, shale oil company in TX filed for bankruptcy today. Sadly, I believe that many other companies will follow. As I explained previously, Saudi Arabia enjoys the lowest cost of oil production at $17 per barrel. On the other hand, 70% of the US shale companies lose money if the cost of oil goes down below $60. Do the math.

    Saudi Arabia already announced that they will not reduce production even at $20 per barrel.

    What concerns me, is that this will be a domino effect. Trillions of dollars are invested in the oil and gas industry. If oil companies will be going down, we will see many other companies in support, construction and infrastructure industries going down. Furthermore, all of this shale exploration was not done on cash basis. I am sure, there were billions of dollars of loans taken out. If large customers default, how long do you think it will take for the banks to start defaulting, going bankrupt.

    Now, let’s think, what might happen next? Will there be another bail out of the banks? Or considering the changes in Dodd-Frank, which were done in the middle of the night, will we see banks dumping more swaps, more derivatives, on the FDIC insured institutions, which means ultimately on us, the taxpayers?

    Time and again we are seeing how corruption in our government and Congress destroys industry after industry. Remember steel making, aluminum, auto making, textile? How about solar panels not so long ago? Time and again we could save those industries by instituting tariffs, we could be prosperous, we could be the wealthiest nation in the world, yet we are now the biggest debtor in the world, staring at 18 trillion dollar debt and at least 140 trillion of unfunded obligations. 92.5 million adult Americans are not working, average family income and average family savings are plummeting. Yet nobody in Congress or the government is even talking about protecting the US industries, even industries essential for national security and national independence. Nobody is talking about tariffs. Crickets…

    By Dr. Orly Taitz, ESQ

    Deep Debt Keeps Oil Firms Pumping – WSJ

    www.wsj.com/…/deep-debt-keeps-oil-firms-pumpin…

    The Wall Street Journal

    2 days ago – On Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to …

    On Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to …


Source: http://www.orlytaitzesq.com/as-i-predicted-we-are-starting-to-see-fall-of-oil-companies-in-us-tariffs-on-foreign-oil-are-badly-needed-however-our-corrupt-president-and-congress-are-doing-nothing-to-protect-the-us-industries/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.