John T. Young, Jr. |Conway Mackenzie
While the general population enjoys lower gasoline prices at the pump, the impact to the oil and gas industry in this country, and its implications for our broader economy, is likely much worse than the public realizes.
U.S. oil and gas debt has surpassed the $100 billion mark and is quickly approaching $200 billion. While many in industry anticipated future impacts from overcapacity and inadequate infrastructure, very few expected this most recent price collapse to happen so soon and to progress so quickly. The fundamentals for industry were very different six weeks ago and now interested parties are scrambling to reposition themselves.