{"id":28006,"date":"2017-11-15T08:02:32","date_gmt":"2017-11-15T13:02:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=28006"},"modified":"2017-11-15T08:02:32","modified_gmt":"2017-11-15T13:02:32","slug":"u-s-shale-oil-production-update-financial-carnage-continues-to-gut-industry","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=28006","title":{"rendered":"U.S. SHALE OIL PRODUCTION UPDATE: Financial Carnage Continues To Gut Industry"},"content":{"rendered":"<header class=\"entry-header clearfix\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/srsroccoreport.com\/u-s-shale-oil-production-update-financial-carnage-continues-to-gut-industry\/\">U.S. SHALE OIL PRODUCTION UPDATE: Financial Carnage Continues To Gut Industry<\/a><\/h3>\n<p class=\"entry-title\"><span style=\"color: #333333; font-size: 16px;\">As the Mainstream media reports about the next phase of the glorious U.S. Shale Oil Revolution, the financial carnage continues to gut the industry deep\u00a0down inside the entrails of its horizontal laterals.\u00a0 The stench of fracking fluid must be driving shale oil advocates utterly insane as they are no longer able to see the financial wreckage taking place in these companies quarterly reports.<\/span><\/p>\n<\/header>\n<div class=\"entry-content clearfix\">\n<p>This weekend, one of my readers sent me the following Bloomberg 45 minute TV special titled, <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2017-11-10\/the-next-shale-revolution-video\" rel=\"noopener\"><em><strong>The Next Shale Revolution<\/strong><\/em><\/a>.\u00a0 If you are in need of a good laugh, I highly recommend watching part of the video.\u00a0 At the beginning of the video, it starts off with President Trump stating that the U.S. has become an energy exporter for the first time\u00a0ever.\u00a0 Trump goes on to say, \u201cthat powered by new innovation and technology, we are now on the cusp of a new energy revolution.\u201d\u00a0 While I have to applaud Trump\u2019s efforts for putting out some positive and reassuring news, I wonder who is providing him with terribly inaccurate energy information.<\/p>\n<p>I would kindly like to remind the reader; the United States is still a NET IMPORTER of oil.\u00a0 We still import nearly six million barrels of oil per day, but we export some finished products and a percentage of our shale oil production.\u00a0 Thus, we still import a net of approximately three million barrels per day of oil.<\/p>\n<p>A few minutes into the Bloomberg video, both Pioneer Resources Chairman, Scott Sheffield, and Continental Resources CEO, Harold Hamm, explain how advanced technology will revolutionize the shale oil industry and bring down costs.\u00a0 <strong>I find that statement quite hilarious as Continental\u00a0Resources and Pioneer continue to spend more money drilling for oil and gas then they make from their operations.<\/strong><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. SHALE OIL PRODUCTION UPDATE: Financial Carnage Continues To Gut Industry As the Mainstream media reports about the next phase of the glorious U.S. Shale Oil Revolution, the financial carnage continues to gut the industry deep\u00a0down inside the entrails of its horizontal laterals.\u00a0 The stench of fracking fluid must be driving shale oil advocates utterly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1189,15106,496,595,723,12073,9433,17036],"class_list":["post-28006","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-energy-exports","tag-energy-imports","tag-mainstream-media","tag-oil-production","tag-shale-oil","tag-srsrocco-report","tag-us-shale-oil-production","tag-us-shale-oil-revolution"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28006"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28006\/revisions"}],"predecessor-version":[{"id":28007,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28006\/revisions\/28007"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}