Oil Changers

“On Monday, Chesapeake Energy, once the highest flier of the U.S. oil boom, had to deny publicly that it was preparing to file for bankruptcy; some 60 oil companies have already done so, and the research firm IHS estimates that as many as 150 companies could follow suit.” FiveThirtyEight’s Ben Casselman’s explains why Saudi Arabia might finally be winning its war against the U.S. oil industry.

+ Or will this ultimately be a war without a winner? From Bloomberg: The oil industry got together and agreed things may never get better. (That’s the kind of sentiment that some people view as a buying opportunity.)

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