As we await the next chapter in the ongoing Greek debt mess, something of interest is happening here in the U.S.
For the first time in my memory (which goes back more than four decades in this business), the normal supply-and-demand trade-off has been fundamentally altered.
As I have explained on several occasions in Oil & Energy Investor, energy debt matters will hamper some U.S. producers, while the inability to replace volume extracted due to the expenses incurred exceeding the wellhead profits will cause significant problems for others.
Put simply, some companies are going out of business. Either other corporations will acquire their assets (including producing wells and land leases) in what is shaping up as a major new M&A cycle or they will simply go bust.
We have talked before about the opportunities for the investor from this cycle. Today, however, I want to emphasize something else that is having a more direct impact on how you should be selecting your investment targets moving forward.