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@ Nejb has a strong point. I remember when certain service companies in the 1960’s and 70’s would sometimes gift cars and boats to certain executives and area superintendents during the end of year Christmas holidays to reward them for contracts and continued business in the next year. Those were the best days of the oil and gas business. Today, you’d be hard pressed to have an oil company throw a real Christmas party for its staff. I’m happy to have lived through the best days of the oil business and am retired today with great memories.
Sarbanes Oxley which led to service companies throttling down entertainment budgets did more to hurt O&G than anything else.
Shale brought the economy out of the housing crisis and mortgage faults brought on by WS. It needs to be applauded for the people it put to work and the money it kept at home. You would hope at least the solid companies could figure out the economics and how to after 7 years
DW economics are far superior to shale as is well longevity and maintenance cost. When the DW pipeline infrastructure matures shales will become a marginally economical afterthought in US O&G.
@1ufx, what are you talking about? I own both an automobile and a buggy whip. I carry one in my vehicle at all times.
Fixed*
US Buggy whips , which was once such a great industry, has been destroyed by Automobiles. Agree (upvote) / Disagree (downvote)?
I wouldn't say so much the US oil & gas industry was destroyed by shale, but CHANGED by it. So is life and the world. Things change all the time.
Shale oil is an inventive creation of the oil extraction industry. You can’t complain about evolution anymore than they did when a horse & carriage was replaced by a motor car. It may be right, it may be wrong, but it’s a good idea at the time.
Reminds me of that opening line from gone with the wind: ".....look for it only in books, for it is no more than a dream remembered, a civilization gone with the wind...."