Energy companies lose $1.3 trillion amid oil crash
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We’ve been talking on and off for the past year or so about the fall in oil prices. Fine. Old news.
Bloomberg went out and did a little math though and came up with a really big number. The fall has wiped $1.3 trillion off the value of energy companies as their share prices have fallen along with crude.
That’s a number so big it kind of doesn’t mean anything … ’til you think about all the pension funds and retirement accounts that have those company shares in their portfolios.
Crude today is $44.50 a barrel.
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