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The biggest wave yet of U.S. oil defaults is starting now…

Crux note: Today, we’re continuing our on-going coverage of what Stansberry Research founder Porter Stansberry calls “the greatest legal wealth transfer in history.” Regular readers know the story…

Porter has been predicting that the debt-fueled bubble in U.S. oil and gas is going to roil credit markets and create a contagion that will effect stocks, bonds… and even the U.S. economy. So far, everything is playing out just as predicted. As Bloomberg reported today, the “period of vast credit defaults” Porter has been warning readers about in the oil and gas sector is just getting started…

From Bloomberg:

In less than a month, the U.S. oil bust could claim two of its biggest victims yet.

Energy XXI Ltd. and SandRidge Energy Inc., oil and gas drillers with a combined $7.6 billion of debt, didn’t pay interest on their bonds last week. They have until the middle of next month to either pay…


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