About 20 years back I worked in an internet startup. It was a crazy time as when the internet bubble popped, corporate corpses lined the way. Amazon was just one more crazy webshop that could not turn a profit at the time. It looked dire. Look again – the internet bubble going down was a cleaning effect. It culled the sick ones, those just raising money on no more than a PowerPoint presentation. It kicked those that remained in the race very hard and made them put in their last drop of sweat. Look what it has become. High Street is on the ropes. The internet is everywhere. everyone buys online. Shale is going to have this moment as well when we look back at today and wonder what things were like back then. Shale can’t be killed anymore. This genie does not go back in the bottle.
The death of the U.S. shale sector might have been greatly exaggerated, and while the industry saw a steep decline in production this year, drillers could be primed to recover much faster than thought