747
Brent at $30 would have meant global chaos across the board...Spot Fe would be sub $30
It would mean a total stop to global economies
SDL would not be able to find funding...and would end up in liquidation, as would some other Aussie juniors..there would be no ribbon cutting ceremony
Sovereign funds would be in liquidation as the need Oil + $80 to survive
Some countries would be technically insolvent
Debt defaults across the board esp in the USA
Market meltdown etc everywhere
Shale Gas players in USA non - existent
CAPEX of major oil slashed again
Nat Gas prices prob higher
bank freeze on lending
I think only a handful of cashed up Oil players would survive...and come out better for it...Those with very low cost, high flow rates and quick cash flows...and no need for CAPEX......They would become even more attractive to the majors seeking to replace strategic reserves from lost shale plays etc...
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