Shale oil has been driven by investors with few places to put their money deciding that oil US and Canadian oil plays MIGHT work out.
The fracking revolution (a.k.a the Shale Revolution) never made financial sense and investors started fleeing the business in 2019. By 2020 once booming areas like the Permian (under Texas and Oklahoma) have proven to be losers.
If it takes $10 million and 2 years to get $8 million dollars in return, investors are not happy.
The people making money on shale oil in the mid-2000’s were paying dividends paid for by new investors, not profits. That is the definition of a Ponzi scheme.
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