US Shale Output Shrinking
It comes now from the US Energy Information Agency, and is headlined by Bloomberg Business, so yes, it’s official. As Bloomberg put it, “US Shale Boom Grinds to a Halt.” Which, actually, is overstating the case by a good bit, there isn’t going to be a “halt.” Nevertheless, as sane people everywhere have been insisting for years, the shale boom is, as it always was going to be, a bust.
Editor: this is it folks, global peak oil is knocking on the door. We do expect oil prices to substantially rise again, somewhere between now and the end of next year.
[dailyimpact.net] – It’s Official: The Shale-Oil Boom is Over