The critical chart in the original article you posted mihal was...

The critical chart in the original article you posted mihal was IMO that Figure 10 showing the different shale plays and the gas price they need to make 12% IRR.

Only the SW Marcellus is profitable at $2 gas hub price! And that is mostly, I think, because it's a wet gas there so they get a lot of condensate.

Every other single shale play in the US requires at least $3/btu and most are in the $4-6 range.

I don't agree that this means there will be a bust. Most of the big players will be able to ride out the period of low prices by making a loss for a while, but as supply drops, demand will go up and the price almost certainly overcorrect and head up north of $6. Eventually it will stabilise around the $4-6 mark at which these projects are profitable.

Which is good news for thermal coal prices.