With oil so cheap, are shale/fracking companies pretty much doomed?

Sig said:
As I posted in another thread, there are fewer than 160,000 jobs in oil and gas extraction in the entire United States (https://data.bls.gov/timeseries/CES1021100001?amp%3bdata_tool=XGtable&output_view=data&include_graphs=true) So no way that the Central Valley has 600,000 oil and gas jobs! Heck, fewer than 4M people live in the entire Central Valley, even if the BLS data didn't make that statement absurd the idea that 15% of the population there works in oil and gas extraction doesn't pass the smell test if you've ever spent any time there.

Oil and gas extraction isn't very labor intensive at all, it makes up .1%, one tenth of one percent, of all U.S. jobs. Any talk about massive job losses to the country from that industry need to be taken with a giant grain of salt and a some quick reality checks.

They say 95% of statistics are made up......
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Lies, damned lies, and statistics.
 
A buddy in Houston told me the same thing. Shale oil is about the easiest extraction operation to shut back down and then start up. And oil leases / wellheads never go to waste. The prior operator may go belly-up, but a new operator will most definitely step in and step up when the economics dictate.

It’s a captive resource.

kmiklas said:
Goldman Says Shale Might End Up Being a Winner of the Oil War
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