"Global commodity prices slipped sharply last week with WTI crude falling to $93 a barrel, just $23 off the price that leaves the booming US shale industry bankrupt with prices that no longer cover its operating costs.
Will the Oil States beat the fracking revolution after all? The lowest cost producer always wins in any market competition, that’s the iron law of economics. Gulf States need $2 a barrel to break even, not $70."
'via Blog this'
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