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$400 Billion Of "Sunk" Costs Since the Shale Oil Revolution Started, All Lost

Video Stuff
Folks NEED to watch this video ! Often the MSM will
report of comments made by, in this case, Diamondback, and leave out the most relevant parts. Eric does not. This is important.



Quote Stuff
“The oil business has thrived under Democratic leadership despite them being true haters of all things fossil,” Waters said. “For whatever reason, I made millions of dollars under Clinton. Then I made even more under Obama and Biden. I have never had a solid explanation.”
His business outlook for the coming months under Trump?
“Hopefully it won’t be catastrophic,” Waters said.



The United States shale oil phenomena was profitable for a few quarters between 2022 and 2023 when high prices lent themselves to cash flow. In 2021 Bloomberg predicted the shale sector would clear $300B of profit in 2022 onward but D&C costs went up and the
sector never made half that.
Sadly what it did make was not applied to shale oil debt and today the sector is back to being over $178 billion dollars in the toilet.
Personally I believe that debt will, for the most part, never be paid back now as costs increase and well productivity declines.​
We'll wait on that, to see, but it will take $140 oil and $5 natgas, sustained, to be able to turn it all around.
​
So for all the bullshit about how wonderful shale oil has been for foreign policy, trade deficits, jobs and for the consumer (?!), the entire thing is going down in history as never having made money.


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