A gentle nudge to watch the numbers, not the hype
Tom KirkmanIndependent Project Manager
My comment this early Monday morning. Just a gentle nudge to pay attention to the actual numbers, and not the hype.
Tom KirkmanIndependent Project Manager
FROM THE THREAD
Tom's notes 3
Yep, Eugene, *again* is the correct word here.
This morning I wrote a follow-up analysis on the oil price downtick here:
https://www.linkedin.com/feed/update/urn:li:activity:6406671002809528320
Between 2008 and 2017, most U.S. Shale oil companies spent more than they earned.
https://www.google.com/amp/s/amp.ft.com/content/ea3ff3a0-4639-11e8-8ee8-cae73aab7ccb
US shale groups reach self-financing milestone as oil price rises.
The US shale oil revolution has reached a landmark moment, with the sector’s top companies for the first time earning enough cash to cover the cost of new wells."
Ronald A Sprague yes, I know. In this thread, I'm just trying to gently nudge lurkers to note that while mainstream media hypes "energy independence" and the "shale oil miracle" the economic reality of U.S. Shale Oil cannot ignore previous debts used to drill new wells. Hamster wheel of debt.
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