U.S. shale producers rush to cut spending, output as oil prices tank

First – I don’t believe this is going to last long. We will be back at around 50 in no time. Second – this is going to be a blip in the history of shale that will have caused another round of consolidation in the industry. Third – let’s watch out for the bailouts. Because they will come. I always have a strange feeling when governments pick winners as they always do in RE and EV. I believe shale will survive this without gifts. Some maybe not but that’s the nature of the market – the best survive.

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