Shale drillers are afflicted by the same hubris OPEC is afflicted with it seems. They think they can steer the oil market and hence oil prices. When in fact all of you just waddle behind developments that you all have very little influence in. The sooner you recognize, the better you will prepare for the inevitable crunch that will come when the world economy crumples under the effect of China deflating and Europe running out of even printed money. Thats not for right now but it’s in our immediate future. We are not safe yet.
U.S. oil explorers are making more money than at any time since the shale revolution began over a decade ago, according to Deloitte LLP.