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Hi, THis article appliesto SSN to a tee

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chand

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12/12/14

11:38

Post #: 14451018
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Originally posted by Biarra ↑

http://oil-price.net/en/articles/falling-oil-price-slows-us-fracking.php

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High oil prices in previous decades did not spawn the shale oil revolution. That was created by advances in technology. Advances in technology originating from the same country that landed the first men on the moon over 40 years ago and made smart phones affordable to everyone today. The good old USA has the collective smarts to create a cheaper way to get oil out of the ground. American ingenuity always figures out a way.
It is time for the fracking industry to change priorities. The oil production landscape just switched gears from a gold-rush, money-grab mode to a survival mode. It has matured. It was easy to become complacent when oil prices were high and cash was flowing no matter what, but waste and inefficiency inevitably creep in. Some efficiencies can now be achieved by trimming the elevated royalties to land owners and extravagant executive bonuses. This may be painful for some but the Saudis are determined to keep the pressure up to squeeze out US competitors, so American shale oil producers have no choice.

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Hi,

THis article appliesto SSN to a tee

SSN Price at posting: 1.2¢ Sentiment: None Disclosure: Held
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