Why Billions in Proven Shale Oil Reserves Suddenly Became Unproven
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Why Billions in Proven Shale Oil Reserves Suddenly Became Unproven

——————— Why Billions in Proven Shale Oil Reserves Suddenly Became Unproven From our friends at Bloomberg: Ultra Petroleum Corp. was a shale success story. A former penny stock that made the big leagues, it was worth almost $15 billion at its 2012 peak. Then came the bust. …

America defiant in ‘oil war’ with OPEC
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America defiant in ‘oil war’ with OPEC

America’s energy industry is battling OPEC with a ferocity not seen since the 1980s. So far, it’s not backing down. The oil cartel’s decision last week not scale back on production was widely seen as an attempt to choke off the U.S. shale boom. OPEC figures that by driving down oil prices, …