Santos begs for mercy

Monday, 17 August 2015

After the shellacking handed out to STO last week, it’s looking a little spooked with a pointless announcement this morning:

Well, of course you’re not going to raise equity if you pretend that GLNG is actually worth something. But how long can that go on?

Oil under immediate pressure as markets open this morning…

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.