U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead
The U.S. shale oil industry has been heralded as a savior. It is what helped break the United States dependence upon foreign oil.
Unfortunately, everything is not as it seems. This sector could be termed a giant ponzi scheme. The debt load, especially among the E&P, is not sustainable.
With over $240B due in the next few years, the industry is close to using every barrel produced for debt.
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