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The Shale Boom Has Already Gone Bust, at Least for Now
2015-05-04 14:27:00| Climate Ark Climate Change & Global Warming Newsfeed
Bloomberg: The meteoric rise in U.S. oil production has ended, easing a global glut and driving a rebound in crude prices from below $50 a barrel, according to crude trader and hedge fund manager Andrew J. Hall. We have now reached a turning point, Hall said in a letter Friday to investors in Astenbeck Capital Management LLC, his commodities hedge fund. Growing demand and supply pullbacks rendered all the doomsday forecasts self-defeating. Oil production from Texas to North Dakota peaked at almost...
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