Big Banks Pull Financing, Prepare To Seize Assets From Collapsing Oil and Gas Industry

DeSmogBlog
By Justin MikulkaApr 13, 2020, 2:47 pm453 ptsHot
Read time: 6 mins The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of taking over the oil companies that can not afford to pay back the bank’s loans. Reuters reported that banks are exploring…

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