In a stunning analysis this week, Goldman Sachs found almost $1 trillion in investments in future oil projects at risk. They looked at 400 of the world’s largest new oil and gas fields -- excluding U.S. shale -- and found projects representing $930 billion of future investment that are no longer profitable with Brent crude at $70. In the U.S., the shale-oil party isn’t over yet, but zombies are beginning to crash it.-----
That's $930 billion in mal-investment that would have gone to maintaining the status quo in the energy sector that can now find a more useful place to invest. Of course from the money supply perspective this is just more loose money in a world awash with the stuff. From the consumer perspective it means lower costs for just about everything, more money left over for raises, and lower interest rates. No wonder Vampire Squid Corp hates the idea.