The insanity continues in the United States second largest shale oil field as the fundamental economics go from bad to worse. While it is true that the shale industry doesn’t look as dire as it did back in 2016 when oil prices fell off a cliff, I can assure you the worst is yet to come. Unfortunately, the market is blind to the biggest Ponzi Scheme in history, because wisdom and reason have disappeared from the energy industry years ago. How can I say that? Well, I heard it from several oilmen that worked in the conventional oil industry… an industry that made good money, paid its bills, and didn’t go much into debt. They told me that the only way shale oil could work is if the company went public so it could raise money from some poor unworthy slobs they didn’t know in order to fund an […]