In this week’s Off The Cuff podcast, Chris and Art Berman discuss:
- Shale Oil's Chronic Profit Drought
- Nearly all companies are cash-flow negative
- Why Drilling US Oil Isn't Profitable
- Oil service costs eat your lunch
- Why Drillers Can't Stop Drilling
- They need cash to service their debts
- Shale Oil Is A Business Model With No Future
- When credit tightens, the whole industry will implode
Right now, the US is still producing a record amount of oil, due mostly to shale fields developed within the past decade. But that bonanza won't last -- it
can't last -- explains petroleum geologist Art Berman. Nearly every shale driller has been and will remain to be unprofitable. The nature of shale wells and the nature of oil service costs will ensure that.
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The post Off The Cuff: Why Drilling US Oil Isn’t Profitable appeared first on Peak Prosperity.
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