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Laurence D. Fink, he world’s largest money manager,Says 400 Energy Firms May Not Survive Cheap Oil

stander
stander
in Oil, Gas and Energy News

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Laurence D. Fink, chairman of BlackRock Inc., the world’s largest money manager, said as many as 400 energy companies may not survive because oil prices are not high enough for them to meet their debt obligations.


“Carbons are going to be cheaper for longer,” Fink said in a presentation to the New Jersey Pension Investment Council in Trenton today. He did not make a forecast for oil prices or name specific companies.


http://www.bloomberg.com/news/articles/2016-01-27/blackrock-s-fink-says-400-energy-firms-may-not-survive-cheap-oil


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