ANIMAL SPIRITS

摘要

“How's it going?"the Dallas Fed asked E&P executives in December 2020. They had a lot to say. It's a reminder of what Mom always said:"Never ask a lady how she's doing when she's short GameStop at $4."One producer replied，"Drillers insisting on bringing rigs back and additional production online will continue to destroy investor dollars."Comments included"survive"and"zom-bification of companies."One wrote that the reserve-based loan"used to be a valuable industry tool until the financial markets all went berserk and gaga over all things and everything Permian or shale."