Back in February, the Wall Street Journal released an alarming report that revealed how the U.S. shale revolution could be on its last legs. The breakneck 30% annual output growth by the Shale Patch before the pandemic was such a torrid clip that it could only last for years before producers ran out of prime drilling locations. Now, the oil price rebound is in full swing, but shale producers have still chosen to hold back on increasing production, despite the highest oil prices in years and requests from the White House to drill more. Many…
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