The American Oil Boom Won't Last Long at $65 Per Barrel

The American Oil Boom Won't Last Long at $65 Per Barrel:

OPEC's idea is to try to knock out U.S. shale producers by driving prices lower than they can afford. That way Saudi Arabia, the cartel's biggest exporter, can keep its market share in the U.S.

http://www.businessweek.com/articles/2014-12-01/can-the-us-fracking-boom-survive-with-oil-65-per-barrel

The Shale Bust Arrives: November Permits For New Shale Wells Tumble 15%:

Reuters reports, new data suggests that the much-anticipated slowdown in shale country may have finally arrived - permits for new wells dropped 15% across 12 major shale formations last month, as one analysts warns, "the first domino is the price, which causes other dominos to fall."

http://www.zerohedge.com/news/2014-12-01/shale-bust-arrives-november-permits-new-shale-wells-tumble-15