Turns out the U.S. oil boom was just a fairy tale

Posted by on Jan 15, 2015 @ 5:07 am in Conservation | 0 comments | Last modified: January 14, 2015

With one quick drop in the price of oil, the shale oil boom is officially bust. In less than a week, 61 oil rigs across the United States closed up shop, according to the most recent rig count from Baker Hughes. The U.S. has 1,750 oil rigs still pumping, but that number is expected to fall by another 400 rigs by the time spring rolls around. The whole episode is a...

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