ponzi

Blog

Oleksii Sergieiev | Dreamstime.com

The Dangerous Economics of Shale Oil

Today's lower prices will kill the shale 'miracle'
Tuesday, December 23, 2014, 3:31 PM

For years, we've been warning here at PeakProsperity.com that the economics of the US 'shale revolution' were suspect. Namely, that they've only been made possible by the new era of 'expensive' oil (an average oil price of between $80-$100 per barrel). We've argued that many players in the shale industry simply wouldn't be able to operate profitably at lower prices.

Well, with oil prices now suddenly sub-$60 per barrel, we're about to find out. » Read more