RE:hopeRe false news I see two tales being told to investors. 1. US Shale oil production is expected to increase by 5 million bdp over the next few years. 2. Shale companies are not profitable. They have financed ever increasing production with cash raised through shares offerings and increased debt. They have already tapped out the sweet spots and new production is focused in areas with ever increasing decline rates and lower initial production. A number of industry execs including the CEO of Schlumberger have gone on record to support the second narrative. I think the second narrative is correct and as the financing dries up the shale revolution will fizzle out.