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Oil’s Whodunit Moment Coming…With Millions of Barrels to Vanish

Chris Temple 0

By Asjylyn Loder, of Bloomberg Business -- May 21, 2015 -- No, folks, this issue hasn't gone away.  In the days ahead, many a shale explorer/developer will be reporting that untold millions of barrels of once "proven" oil reserves have been "vaporized," as they are no longer economical to produce at current prices. As I (and others) have written, this will at some point prove self-correcting for prices, once it's understood that America simply doesn't have the endless, cheap energy reserves commonly thought. Loder's excellent article here goes into considerable depth...and names the names of the companies whose "reserves" simply don't exist as a practical matter.

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