The whole point that Chanos and others are making is that Shale oil has never made money / returned capital. It is a ponzi scheme precipitated by cheap debt / financing. Please read the article and it will be explained :)
Hi Parsley,yes the 9th will be intresting next year does look good for rkh and who knows we may get another j/v partner for Falklands as well, the Argentina government are opening up to inward investment and structural reform ,there's certainly a few ports /refineries there that would welcome investment and lets not forget the Falklands are not too far away !, what happened to Paribas ?, are they still operational ?, not really looked at argie news recently other than pgd in Peru south America
Well it is tight oil, not specifically shale. Although we might not know the exact oil price which will sustain signifcant tight oil production, your suggestion that it might be $80 has already been proven to be wrong. Nobody knows what the oil price will be in the future, but one thing is absolutely assured, US tight oil production is going to play a very important role in determining future oil prices. If you are investing on the basis that US tight oil production is a total scam, you are about lose a lot of money.
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