Federal Reserve Extends Lifeline To Ailing U.S. Oil Industry

The Federal Reserve made some changes to its Main Street Lending Program according to a Thursday press release by the central bank that will now extend a much-needed lifeline to the U.S. oil industry. As bankruptcies, capex cuts, and unfavorable financial reports from Q1 start to trickle into the US shale patch, more oil companies in peril will now be able to tap the Main Street fund that was set up to render aid to small and medium sized businesses. Prior to today, those funds were not available to companies who had more than 10,000 employees…