NationofChange
“Banks are losing money and investors are stuck in investments they can’t get rid of.”
The outlook is increasingly bleak for oil and gas companies. The
beginning of this year has seen the highest number of companies announce bankruptcy during the first quarter in five years. Eight oil and gas companies announced they were filing for bankruptcy during the first quarter of 2021.
Meanwhile, earlier this month The Financial Times noted that of 500 privately owned oil and gas companies in the U.S.,
400 are losing money and unlikely to ever pay back their large debts.
According to the Financial Times, the remaining companies are focused on