quote:
Cramer was saying Schlumberger is the best in the industry, but also said they were in trouble.

Oil is under $50.

2008 was derivatives of house mortgage paper.
Lehman brothers made bets over $650 BILLION when they had under $70 billion and they were ALL IN. When the market moved down they could not meet the call.

Schlumberger is just cutting operating expenses.

Did he have a take on other services companies such as Halliburton, Weatherford etc.? Did he say when he thinks oil prices will rebound?

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Posted by sassyLSU

Lake Charles, La.

Member since May 2011

2080 posts

Posted on 1/13/15 at 7:36 pm to Street Hawk

quote:
Did he have a take on other services companies such as Halliburton, Weatherford etc.? Did he say when he thinks oil prices will rebound?

Cramer:
It was an op-ed piece for one of the internet news services I was reading. Did not see anything about your questions but in the same website they quoted a middle eastern prince as saying we will NEVER see $100 oil again. At the time, I thought, this prince does not see beyond his nose. I would bet the house oil is over $100 in 50 years. US dollars will be worth 22 cents on todays dollar, then. On the other hand, prince may see solar and wind happening so maybe he is right. US Navy has a gadget producing hydrogen from sea water so the fleet will not have logistics issues with oil/diesel. Its not ready for prime time, but it will be, soon enough. Air travel will be the main transportation using oil in the future.

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