Time Is Almost Up For U.S. Shale
How many times has shale been declared dead over the last 10 years, just in order to rise from the ashes bigger than ever before? The shale story is not an easy one as there are real problems and there will be more blood on the dancefloor but many seem not to appreciate one simple fact. The time of easy oil is over The world still has plenty of crude but its not the kind of “scraping sand in Arabia” kind of oil anymore. New oil is hard to find, hard to develop, hard to lift, hard to reach, hard to bring to the market or hard to process or combinations of those. And shale benefited from the best workout ever. Multiple times at breaking point got the pulse to racehorse dimensions, then money again, then crunch again: That’s what athletes do in order to get in shape. Other oil does not have the effect because they are far less entrepreneurial. There is no feeling in an NOC that failure might be an option. No workout, and you only get the negative effect of low prices. Shale cannot be killed anymore – the only question is how big it will get.
OilPrice.com 
