Re:Zombie Factories Stalk the Sputtering Chinese Economy
by peter303 on Saturday August 29, 2015 @08:28AM
(#10139777)
Sounds like the US oil industry. Many wells that should be shut down as uneconomical at current oil prices are still producing. This is to service an estimated $150 billion in loans from banks and hedge funds.
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Re:Zombie Factories Stalk the Sputtering Chinese Economy
by bpodgursky on Saturday August 29, 2015 @08:42AM
(#10139802)
Just because it's uneconomical to drill a well at a given price doesn't mean it's not profitable at the margin to keep pumping from it, given that the drilling is a sunk cost.