Lousy Shale Economics: Financial Troubles Continue At ExxonMobil

So, if we look at the numbers, SHALE OIL continues to destroy Exxon’s U.S. upstream sector.No doubt, higher oil prices might provide a bit of a breather for Exxon, but with the U.S. and global economic indicators turning down, falling petroleum demand will likely lead to weaker, not stronger oil prices.But, if the central banks come in with additional coordinated QE liquidity injections, much like the massive increase of liquidity from December to February that pushed markets back close to their highs, oil prices could continue higher.

Regardless, the U.S. Shale Oil Ponzi will die with or without high oil prices… it’s just a matter of time.  I believe we are going to start seeing some serious fireworks in the U.S. shale patch within the next 1-2 years.

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