The collapse of the oil price has snared its first West Australian victim with Red Fork Energy losing the support of its major lender. The Perth-based company drills for shale gas in the United States, producing oil and gas. But, it is completely exposed to the US shale gas industry, which analysts say has become unviable at current oil prices. The oil price has tumbled 40 per cent in recent months, dragging down the value and margins of oil and gas producers. Red Fork's major lender, Guggenheim Corporate Funding, called in the receivers this week. http://www.abc.net.au/news/2014-12-11/oil-price-drop-claims-first-wa-victim-red-fork-energy/5962020 Take a look at CCC rated High Yield Bonds. Yields at a whopping 11,62%!!!!!!! http://online.wsj.com/mdc/public/page/2_3022-bondbnchmrk.html Ouch, ouch, ouch! And this in the middle of ZERO INTEREST RATE POLICY environment. Expect more BAD NEWS to come. Analysts say shale gas companies are not the only ones under threat, with lenders also at risk. .. the banks were over-leveraging (sounds familiar?) the industry: “They’ve lent a lot of money to the industry on the basis the oil price would be $US100 forever, they bet OPEC would continue to adjust its supplies to keep the oil price at that level”