OPEC ‘Cannot Destroy The US Shale Industry’

The Death Knell For ‘Peak Oil’

By Guest Column Dr. Benny Peiser—— Bio and Archives--January 25, 2016

Global Warming-Energy-Environment | Comments | Back To Full Article

Hedge funds and private equity groups armed with $60bn of ready cash are poised to snap up the assets of bankrupt US shale drillers, almost guaranteeing that America’s tight oil production will rebound as soon as prices start to recover. Daniel Yergin, founder of IHS Cambridge Energy Research Associates, said it is impossible for OPEC to knock out the US shale industry though a war of attrition even if large numbers of frackers fall by the wayside over coming months.

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