Steve St Angelo: Silver Miners Can Only Tread Water | Oil Industry Dead in Less Than a Decade? (Video)

Steve St Angelo: Silver Miners Can Only Tread Water | Oil Industry Dead in Less Than a Decade? Video

Jason Burack of Wall St for Main St interviewed returning guest, precious metal and energy analyst, Steve St. Angelo of the SRS Rocco Report https://srsroccoreport.com/.

To start off the interview, Jason asks Steve about how well primary gold and primary silver miners are doing at current metals prices? Steve recently put out an article https://srsroccoreport.com/two-thirds… about the primary silver miners and he says that most of the miners are only able to tread water and not much else.

Miners are having major problems continuing to cut costs and primary silver production is now falling. Jason and Steve discuss how many of the larger primary silver miners including Coeur D’ Alene Mining, Hecla and Silver Standard (now SSR Mining) are getting out of the silver business by buying gold mines. However, base metal byproduct silver production has not fallen. Jason asks Steve about his theory of manipulating copper and lead prices higher (without any fundamental justification) to keep 100 million ounces or more of additional byproduct silver online?

Steve thinks that the oil industry will be dead in less than a decade. Why does he think this? Energy returned on energy invested or EROEI. Steve points out how in 2004 the big oil companies made $100 billion in net income with a lower oil price than today.

Only 13 years later, those same oil companies made 90% less in net income at a higher oil price than in 2004! Jason and Steve also discuss the shale oil bubble and how despite many billions being invested, some shale oil companies are up to their eyeballs in debt and can’t generate free cash flow or pay back their debt without selling off assets. To end the interview, Jason asks Steve about his new venture,

Commodity Ad Network https://commodityadnetwork.com/ which was created to help content creators getting screwed over by YouTube and Google.


Video Source

Sharing is caring!

Wall St for Main St

Wall St for Main St is a start up investor education, financial education, research and consulting company. We provide alternative financial information, research, education and consulting to Main Street investors using uncommon wisdom like the Austrian School of Economics. Our goal is teaching people how to fish for themselves instead of trusting their financial adviser for everything. We interview top investors, traders, money managers, financial commentators, economic experts, authors, CEOs and newsletter writers from around the world to discuss the latest events in the global economy and financial markets. Wall St for Main St offers high quality investor education, research and consulting for beginners, high net worth clients and everyone in between who wants to learn to adapt to the current macroeconomic situation, profit off of it or hedge themselves. Wall St for Main St has taught dozens of consulting clients how to invest, trade and hedge in different assets classes.