The U.S. shale oil industry has been heralded as a savior. It is what helped break the United States dependence upon foreign oil.
Unfortunately, everything is not as it seems. This sector could be termed a giant ponzi scheme. The debt load, especially among the E&P, is not sustainable.
With over $240B due in the next few years, the industry is close to using every barrel produced for debt.
Click on image to read full article.
Great post!
Thanks for tasting the eden!
You got a 43.51% upvote from @upmewhale courtesy of @steemium!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
You got a 36.53% upvote from @booster courtesy of @steemium!
NEW FEATURE:
You can earn a passive income from our service by delegating your stake in SteemPower to @booster. We'll be sharing 100% Liquid tokens automatically between all our delegators every time a wallet has accumulated 1K STEEM or SBD.
Quick Delegation: 1000| 2500 | 5000 | 10000 | 20000 | 50000
You got a 35.77% upvote from @emperorofnaps courtesy of @steemium!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
You got a 33.84% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!
You got a 42.93% upvote from @oceanwhale courtesy of @steemium! Earn 100% earning payout by delegating SP to @oceanwhale. Visit www.OceanWhaleBot.com for details!
You got a 44.94% upvote from @dailyupvotes courtesy of @steemium!
To support this service please vote for @chitty as a witness.