ART BERMAN: SHALE COST REDUCTIONS ARE 10% TECHNOLOGY AND 90% INDUSTRY BUST

artberman.com⁄shale-cost-reductions-are-10-technology-and-90-industry-bust

“I am tired of hearing about the unbelievable impact of technology on collapsing U.S. shale production costs. The truth is that these claims are unbelievable. The savings are real but only about 10% is from advances in technology. About 90% is because the oil industry is in a depression and oil field service companies have slashed prices to survive.”

http://www.artberman.com/shale-cost-reductions-are-10-technology-and-90-industry-bust/

The zerohedge article he responds to can be found here: http://www.zerohedge.com/news/2017-03-21/how-opec-lost-war-against-shale-one-chart .

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s