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    Off The Cuff: Why Drilling US Oil Isn’t Profitable

    Oil field service costs always escalate faster than oil's price
    by Adam Taggart

    Thursday, July 18, 2019, 9:47 AM

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In this week’s Off The Cuff podcast, Chris and Art Berman discuss:

  • Shale Oil’s Chronic Profit Drought
    • Nearly all companies are cash-flow negative
  • Why Drilling US Oil Isn’t Profitable
    • Oil service costs eat your lunch
  • Why Drillers Can’t Stop Drilling
    • They need cash to service their debts
  • Shale Oil Is A Business Model With No Future
    • When credit tightens, the whole industry will implode

Right now, the US is still producing a record amount of oil, due mostly to shale fields developed within the past decade. But that bonanza won’t last — it can’t last — explains petroleum geologist Art Berman. Nearly every shale driller has been and will remain to be unprofitable. The nature of shale wells and the nature of oil service costs will ensure that.

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