ML-Implode News - US Shale Production Was a Fed-Floated Sham That Is Now Bust

Do you folks see the writing on the wall here?Â The Bakken down 25% and the Eagle Ford down 40%.Â These are not subtle declines.Â This is much quicker than the U.S. Oil Industry or the Mainstream Media realize.
... [plus] with all the effort and high oil prices from 2011-2014 (first half of 2014), the energy companies producing shale oil in the Bakken are in the hole for $32 billion. Well done.... hat's off to the new wonderful fracking technology.
... the $36 billion in total cumulative debt will occur by June 2017. Thus, it would take an average $65 a barrel to just pay back the debt in seven years. With the way things are going in the U.S. and world economies, I doubt we are going to see much higher oil prices.

Relevant:

US Shale Production Was a Fed-Floated Sham That Is Now Bust