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.
2 hours ago25:22
10 hours ago7:09
15 hours ago30:57
15 hours ago12:45
6 days ago28:44
4 months ago24:33