Oil industry losing $4.4 billion per day in revenues, $1.6 trillion per year - says Citibank

And how many trillions in revenues did these big oil and energy companies make over the last decade...no one is going to feel bad for the amount of money these companies are about to lose especially all those who are up in North Dakota fracking away,
what goes up always comes down, most of the price surge in the oil came from QE and speculation from hedge funds and wallstreet, thank BUBBLE ben bernanke and wallstreet bailouts for $100+ oil over the last 5 years....
 
Nighthawk said:
The price dipped below $50 on Jan. 5, the lowest since April 2009. The decline represents a $4.4 billion drop in daily revenue for oil producers, which equates to $1.6 trillion on an annualized basis, Citigroup researchers led by Edward Morse said in a Jan. 4 note to clients.

http://www.bloomberg.com/news/2015-...-as-market-collapse-guts-drilling-values.html

Means also, someone will save $4.4 billion per day - spending it on other "stuff"....
More...
that's just taking money out of one pocket and putting it in another
 
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