Post Covid Recovery: A Bold Vision of DERP DownUnder
June 23, 2020
I was going to say NSFW, but y’all don’t have jobs anymore anyhow.
Climate Denial Crock of the Week
with Peter Sinclair
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June 23, 2020 at 8:52 am
US shale companies face $300bn in writedowns in Q2
Deloitte says impairments could trigger insolvencies as sector accounts for oil price fall
https://www.ft.com/content/0a91a723-abf2-4905-a370-a9ab1e33ba33
US shale companies could be forced to write down at least $300bn of their assets in the second quarter, as operators begin to account for the oil-price collapse on their balance sheets, according to a new study.
The huge impairments — about half the net value of the companies’ property, plant and equipment — would increase the sector’s leverage from 40 per cent to 54 per cent, triggering insolvencies and restructuring, says the study by Deloitte, an accountancy.
…
“The boom in fracking was largely financed by debt,” said Mohsin Meghji, head of M-III Partners, a restructuring adviser working with some bankrupt shale producers.
But investors have now soured on shale. Wall Street is unlikely to fund a new recovery or pay for the consolidation analysts say the sector needs.
“There was a sense that capital markets were going to dry up,” even before the crash, said Mr Sanderson. “Now the window is completely closed.”
June 24, 2020 at 12:19 pm
They describe it as “writing down assets” when it was really a market bubble all along.
June 23, 2020 at 8:59 am
❗️❗️❗️TAKE ACTION❗️❗️❗️
Financing Abbot Point means supporting the Carmichael coal export project.
Tell these companies that they must rule out further financing of Abbot Point and other Adani companies.
👉 https://www.marketforces.org.au/info/key-issues/abbot-point/
Please also forward and share❗️
June 23, 2020 at 9:03 am
❗️❗️❗️TAKE ACTION❗️❗️❗️
Tell these companies to stop pursuing coal power in Matarbari
In the wake of the fiercest storm Bangladesh has experienced this century, Japanese financial institutions and coal developers are trying to push three new coal power stations.
👉 https://www.marketforces.org.au/stop-matarbari-coal-power-projects/
Please also forward and share❗️
June 24, 2020 at 12:22 pm
I get your point, but there are some things that are “not good enough” for some situations which can still be improvements for people in other situations…just not coal plants.