“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Uncertainty hangs over 20% of Exxon Mobil's oil and gas reserves

Oil prices remain so low for the rest of the year, some amounts of crude oil, bitumen and natural gas will not be considered proved reserves at the end of 2020, "said a statement released Wednesday.

The huge oil sands deposit at Kearl, Alta., Is the main asset of the company, which has been identified as a potential victim of any year-end reserve review. Imperial Oil Ltd, which is roughly 70% owned by Exxon and operated as a subsidiary, said in a separate document that an undetermined portion of Kearl's reserves could be at risk.

It must be said that these 4.5 billion barrels are sufficient to supply all the refineries in the Gulf of Mexico for 18 months.

The company cut its exploration budget by $ 10 billion to deal with the market collapse caused by COVID-19. It also withdrew reserves equivalent to 1 billion barrels from its books. This volume corresponds to sites abandoned to cope with the economic situation. These sites mainly house shale reserves and are located mainly in the United States.