Unfortunately, after all BOOMS… comes the inevitable BUST. With the U.S. Shale Oil Boom now over, this is not only bad news for Americans but also for the rest of the world. Why? Because U.S. shale oil production accounted for 80% of total World Oil Supply growth since the 2008 Global Financial Crisis…
While some of the top five shale oil producers have seen a rebound in oil production since the pandemic shutdowns in early 2020, other companies have experienced massive declines. One of the largest shale oil producers has seen its production decline 30% in just six months!! What we are witnessing…
The drive for U.S. Energy Independence was based on the country’s ability to ramp up shale oil production. For the oil industry to ramp up shale oil production, it had to increase the number of oil drilling rigs. And, so it began. As the drilling rig count increased, so did…
While U.S. oil production reached a new peak of 10.25 million barrels per day, the higher it goes, the more breathtaking will be the inevitable collapse. Thus, as the mainstream media touts the glorious new record in U.S. production that has both surpassed its previous peak in 1970 and Saudi Arabia’s current oil production, it’s a victory that will be bittersweet.
While the U.S. Shale Energy Industry continues to borrow money to produce uneconomical oil and gas, there is another important phenomenon that is not understood by the analyst community. The critical factor overlooked by the media is the fact that the U.S. shale industry is swindling and stealing energy from other areas to stay alive.
BHP Billiton, the world’s largest mining company, has finally decided to exit the shale energy industry entirely. BHP CEO is looking forward to getting rid of its shale assets (liabilities) which have been one of the biggest drains on his company’s balance sheet for decades…